Pre-Open Movers: Change Healthcare Up on Merger Ruling, Nike Falls on Downgrade

Pre-Open Stock Movers:

Change Healthcare Inc. (NASDAQ: CHNG) 7% HIGHER; defeating a Justice Department lawsuit that sought to block UnitedHealth Group's (NYSE: UNH) $7.8 billion acquisition of the company.

Louisiana-Pacific Corp (NYSE: LPX) 5% LOWER; BofA Securities downgraded from Neutral to Underperform with a price target of $56.00 (from $64.00).

Cognex Corporation (NASDAQ: CGNX) 4% HIGHER; increased its revenue guidance for the third quarter of 2022 ahead of the company's triennial Analyst Day. The company now expects revenue to be between $195 million and $205 million as compared to the company's previous guidance of $160 million to $180 million, which was given on August 2, 2022.

Ford (NYSE: F) 4% LOWER; said inflation-related supplier costs during the third quarter will run about $1.0 billion higher than originally expected.

Norwegian Cruise Line Holdings (NYSE: NCLH) 3% HIGHER; Truist Securities upgraded from Hold to Buy with a price target of $19.00 (from $18.00).

Nike (NYSE: NKE) 3% LOWER; Barclays downgraded from Overweight to Equalweight with a price target of $110.00 (from $125.00).

PayPal (NASDAQ: PYPL) 2% LOWER; Susquehanna downgraded from Positive to Neutral with a price target of $100.00 (from $115.00).

Weyerhaeuser (NYSE: WY) 2% LOWER; BofA Securities downgraded from Buy to Neutral (from $38.00).

Enovix Corporation (NASDAQ: ENVX) 1% HIGHER; Piper Sandler initiates coverage with an Overweight rating and a price target of $29.00.

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