SAN ANTELMO, CA – JUNE 6: In this photo illustration, the Coinbase logo is seen on a screen on June 6, 2023 in San Anselmo, California. The U.S. Securities and Exchange Commission filed a lawsuit against cryptocurrency exchange Coinbase, accusing it of violating securities laws by acting as an exchange, broker and clearinghouse without registering with the SEC. (Photo by Justin Sullivan/Getty Images)
Justin Sullivan | Getty Images
Take a look at the companies with the biggest moves before the market:
Rivian — Shares rose 6.5% in premarket trading, adding to Monday’s gains, after the electric automaker reported second-quarter deliveries of 12,640 vehicles. Deliveries rose 59% from the previous quarter, beating analysts’ expectations of 11,000 vehicles, according to StreetAccount.
UPS — Shares of the logistics and delivery company fell more than 1% in premarket trading as talks between UPS and the truckers union appeared to be at an impasse. The union said in a statement Wednesday that the talks broke down after UPS “went off the table.” UPS responded that instead of giving up, it encouraged the union to return to the negotiating table. Current UPS truck driver contracts expire at the end of July.
Coinbase Piper Sandler downgraded the company’s stock and said that despite a recent market rally following the SEC’s lawsuit against Coinbase, gains in cryptocurrency prices have not translated into higher trading volumes, sending the crypto services firm down more than 2%. . The firm also expects Coinbase’s trading volume and monthly trading users to hit its lowest levels in more than two years in the third quarter.
AstraZeneca — Shares of the drugmaker fell 8 percent on Monday after AstraZeneca announced preliminary results from its phase 3 lung cancer treatment, after the stock rose nearly 3 percent. The company said the overall survival data were “immaturethe results were not statistically significant, but the trial will continue.
transoceanic — Shares of the offshore oil driller rose 3.7% after Citigroup upgraded shares of the offshore oil driller to buy from neutral. “We think Transocean is well-positioned among its offshore drilling peers as its large number of idled rigs will come back to work in the coming years,” Citi said.
hertz — Shares of Hertz rose more than 1% after Jefferies gave Hertz a “buy” rating, citing the potential for higher margins.
American Equity Investment Life Holdings ——The company’s share price rose by more than 2% after listing announced that it will be acquired go through Brookfield Re About $4.3 billion. As part of the agreement, each AEL shareholder will receive $55 per AEL share.
wolf speed — Shares soared more than 17% after the close of trading Companies sign ten-year supply agreementl Cooperate with Renesas Electronics to provide silicon carbide bare water and epitaxial water, worth 2 billion US dollars.
— CNBC’s Tanaya Macheel and Jesse Pound contributed reporting.