Shopping carts in front of a Target store in the borough of Queens in New York, the United States, on Saturday, May 13, 2023. Target Corp. is expected to release earnings numbers on May 17th.
Bing Guan | Bloomberg | Getty Images
Check out the companies making headlines in premarket trading.
Tesla, General Motors — Shares of both automakers were up in premarket trade, gaining 5.7% and 5%, respectively. General Motors on Thursday announced plans to use Tesla’s electric vehicle charging network, saying its vehicles will also use Tesla’s North American Charging Standard connector in its cars by 2025.
Corning — Shares of the glass materials maker rose 3.2% after Morgan Stanley described the company’s business as “reduced risk.”
DocuSign — Shares of the e-signature provider are up about 5% premarket after the company reported earnings and sales that beat analysts’ estimates for the fiscal quarter ended April 30, issued upbeat guidance, and announced a handful of new service offerings and hires in the industry management announced.
Adobe – According to StreetAccount, shares of the software company rose more than 3% after Wells Fargo upgraded the stock to “overweight” on Friday morning.
Target – The retail giant fell 1.3% after Citi downgraded the stock amid concerns that sales may have peaked.
Nio – Shares of the electric vehicle maker fell 2% in premarket trading after announcing that vehicle sales fell 0.2% year over year. The company’s vehicle margin and net loss also deteriorated year over year.
Sonoma Pharmaceuticals — Shares of the company rose nearly 33% after the company Thursday night announced a new application for its intraoperative pulse irrigation system, which could replace IV bags in some surgical procedures. Sonoma said the treatment will be commercially available in Europe this year and in the US in 2024.
— CNBC’s Tanaya Macheel and Jesse Pound contributed coverage.