Welcome to Extreme Investor Network! Today, we are bringing you the latest updates on the companies making waves in the stock market. Our team of experts has analyzed the top headlines before the bell to give you valuable insights into potential investment opportunities.
Wolfspeed, a semiconductor stock, has fallen nearly 5% after a downgrade to underperform from neutral at Mizuho. The firm predicts a decrease in pricing for silicon carbide, a semiconductor material used in electric vehicles, by about 10% to 20% year-over-year in 2025. Additionally, lower EV production expectations are expected to be a potential headwind for the company.
On a positive note, Nvidia, the AI chip giant, saw its shares rise more than 1% after CEO Jensen Huang reported “insane” demand for its next-generation AI graphics processor, Blackwell. The CEO also reassured investors that Blackwell is on schedule to ship in the fourth quarter.
Telehealth company Hims & Hers Health experienced a decline of around 9% following the FDA’s announcement that the shortage of GLP-1 treatments from Eli Lilly has been resolved. This news impacted the company, which had developed compound versions of the weight-loss drugs to capitalize on the shortages.
In other news, EVgo, the electric vehicle charging company, saw its shares rise more than 9% after being upgraded to overweight by JPMorgan. The analyst cited EVgo’s utilization rate compared to peers and its owner-operator model as key factors for the upgrade.
Levi Strauss faced a 12% plunge after trimming its full-year revenue guidance and delivering fiscal third-quarter revenue that missed analysts’ expectations. The company is also considering a sale of its underperforming Dockers business.
Constellation Brands, the beverage company, slightly rose following better-than-expected fiscal second-quarter earnings. While the company’s earnings per share exceeded estimates, revenue marginally missed expectations. Constellation Brands also reiterated its full-year earnings per share guidance.
Lastly, automaker Stellantis experienced a more than 3% drop in the premarket after a Barclays downgrade to equal weight from overweight. The analyst highlighted the company’s inventory issue in the US and eroding EU/US market shares as contributing factors to the downgrade.
Stay tuned to Extreme Investor Network for more in-depth analysis and expert insights on the latest developments in the stock market. Make informed investment decisions with our unique and valuable content that sets us apart from the rest!