Business

Keurig Dr Pepper, CSX, Li Auto and more


News Update - Previous Market

Check out the companies that make headlines before the alarm goes off:

Keurig Dr Pepper – Consumer shares fell 1.5% after Goldman Sachs downgraded the stock to neutral from its buy rating. The Wall Street firm said it sees increased risks to Keurig’s margins as commodity inflation, particularly related to coffee, remains elevated.

Lucid’s group – Electric scooter company shares rose 2.7% in pre-market trading after Cantor Fitzgerald started hitting the headlines with an overweight rating. The company says Lucid’s luxury and premium vehicles offer greater efficiency, longer range, faster charging and more space than their peers.

Norfolk Southern, CSX – Shares of railway companies each fell more than 1% after UBS downgraded the duo, citing a deteriorating macro backdrop. The Wall Street firm said it will be difficult for Norfolk and CSX to achieve 25% consensus volume growth going forward.

Li Auto Shares of the Chinese electric vehicle maker rose 0.5 percent ahead of the market, even after the company cut its third-quarter delivery guidance to 2,500 vehicles, or 9%. The company said the downward adjustment was due to supply chain constraints.

Amazon, Apple, Microsoft – Big Tech names like Amazon, Apple, Alphabet and Microsoft are all trading money markets at least 1% higher, a possible rebound from Monday’s sell-off. Treasury yields fell on Tuesday morning after multi-year highs hit in the previous session weighed on tech names.



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