Stock Groups

Oatly, Tesla, Dollar Tree and more

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Check out these premarket movers:

Oatly (OTLY) – The oat milk producer lost 7 cents per share for its latest quarter, smaller than the 10 cents a share loss anticipated by analysts. The company’s revenue was lower than anticipated, but its share price plunged 14.1% premarket. Oatly stated that although it had faced difficulties due to Covid restrictions, it is still scaling up production.

Tesla (TSLA) – Tesla slid 2.1% in premarket trading after a weekly loss last week ended an 11-week winning streak. Tesla CEO Elon Musk has sold almost $7 billion worth of stock in the last week.

Dollar Tree (DLTR) – Dollar Tree surged 8.3% in the premarket after activist investor Mantle Ridge took a stake in the discount retailer. According to the Wall Street Journal, Mantle Ridge is asking Dollar Tree to increase its stock price. He also wants to focus on pricing strategies for Family Dollar. Deutsche Bank upgraded the stock from “hold” to “buy,” in light of potential improvement.

Tyson Foods (TSN) – The beef and poultry producer earned $2.30 per share for its fiscal fourth quarter, 27 cents a share above estimates. Wall Street predictions were also exceeded by revenues. Tyson announced its new productivity program, which it claims will help save $1 billion per year by 2024.

American Tower (AMT) – The communications infrastructure real estate investment trust is buying data center REIT CoreSite RealtyCOR: $170 per share cash or approximately $10.1 billion. CoreSite saw a 2.6% increase in premarket activity.

Deere (DE) – The heavy equipment maker and striking workers reached a third tentative contract agreement after the first two were rejected. The new contract agreement was not disclosed by either side and no date has been set. Since Oct. 14, workers have been on the sidelines.

Evgo (EVGO) – The operator of public EV charging networks saw its stock tank by 7.7% in the premarket, after Credit Suisse downgraded it to “neutral” from “outperform.” According to the company, recent stock rallies have likely reflected the benefits of the infrastructure bill and recent announcements.

Royal Dutch Shell (RDSa, RDSb) – Royal Dutch Shell plans to scrap its dual share structure and also drop the “Royal Dutch” part of its corporate name. Third Point, an activist investor in the oil and gas sector, has called for the company to be split into multiple companies to improve shareholder value. Premarket action saw Class A shares gain 1.5%, and Class B shares rise 1.1%

Boeing (BA) – Boeing Senior Vice President Ihssane Mounir said the jet maker is “getting close” to resuming deliveries of its 787 Dreamliner, after suspending them to deal with production issues. Mounir stated that the timing of the restart depends on how regulators respond to the ongoing negotiations. Stock rose 2.7% during the premarket

Petco (WOOF) – The pet products retailer’s stock slid 2.9% in premarket trading after Jefferies downgraded it to “hold” from “buy.” Jefferies pointed out valuation, which had risen 26% in three months. Also, the difficult labor conditions in Petco’s veterinary department.

CrowdStrike (CRWD) – Morgan Stanley began coverage of the cybersecurity company with an “underweight” rating, noting increasing competition and pricing pressure. Crowdstrike lost 4.6% in premarket.

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