Stock Groups

Johnson & Johnson, Rivian, Lordstown and more

Take a look at the top companies that made headlines long before the bell rang.

Johnson & Johnson — Shares of Johnson & Johnson rose nearly 4% in premarket trading on Friday after announcing plans to split its consumer health business off from its pharmaceutical and medical device operations.

Rivian Automotive — Shares of the newly public electric carmaker continued to rally in premarket trading on Friday after rising more than 22% in Thursday’s session. The stock gained 29% on Wednesday, following the debut of the markets. This is The Amazon• FordFord and Ford were already outperformed by a backed company. General Motors by market cap, reaching a valuation of $104.9 billion.

Lordstown Motors — Shares of the auto startup plummeted 10% in premarket trading on Friday after the company reported another quarter with no revenue. Lordstown stated that it intends to manufacture and deliver the Endurance truck during its third quarter in 2022. According to Refinitiv., the loss per share of the company was less than anticipated in its latest quarter. BTIG downgraded Lordstown Motors from buy to neutral.

WM Technology — Software company WM Technology was 13% lower in premarket trading on Friday after missing on the top and bottom lines of its quarterly results. WM Technology’s fourth quarter guidance was also below expectations.

Nvidia —Shares of the chip stock fell slightly in premarket trading on Friday after Wedbush downgradedNvidia is expected to be either neutral or outperform its valuation. Nvidia is trading at 55x Wedbush’s 2024 figures, according to the analyst.

Hewlett Packard Enterprise — Shares of Hewlett Packard Enterprise ticked lower in premarket trading on Friday after Goldman Sachs downgraded the stock to sell from neutral, citing a weakening IT spending environment in late 2021 and early 2022. Wall Street’s firm has reduced its price target to $16 per share, from $14.

Blink Charging — Shares of the electric vehicle charging stock rose 5% in premarket trading on Friday as investors cheered strong third-quarter revenue. Refinitiv reported that revenue was $6.4million, which is well above the $4.7 million analysts had expected.

Caesars Entertainment — Shares of the casino stock rose in premarket trading on Friday after B Riley Securities initiated coverage of Caesars Entertainment with a buy rating and a $191 per share price target.

Warby Parker — Shares of the eyeglasses company fell in premarket trading on Friday after the company reported wider-than-expected losses as direct listing costs offset 32% sales growth. Warby’s three-month net loss was $91.1million, $1.45 per share. This compares to the loss of $41.6million, which is 78c a share, one year earlier.

Mike Robinson
Mike covers the financial, utilities and biotechnology sectors for Street Register. He has been writing about investment and personal finance topics for almost 12 years. Mike has an MBA in Finance from Wake Forest University.