Palantir headquarters in Palo Alto, California, May 10, 2023.
David Paul Morris | Bloomberg | Getty Images
Check out the companies making headlines in premarket trading.
Palantir Technologies – Shares of the data analytics company rose 2.3% after news that the U.S. Army awarded the company a $250 million contract to test and develop artificial intelligence and machine learning.
Unity Software – The game engine’s stock rose nearly 6% after the company announced that CEO John Riccitiello would be retiring. Unity added that James M. Whitehurst would take on the interim chief role.
Rivian Automotive – Shares of the electric truck company rose 3% in premarket trading after UBS upgraded Rivian to “buy” from “neutral.” The investment firm said Rivian’s fundamentals are improving and the stock has upside potential after a recent $1.5 billion capital raise sparked a selloff.
PepsiCo – Shares of the beverage giant rose about 1% after a third-quarter profit surge. The company reported adjusted sales of $2.25 per share on revenue of $23.45 billion, while analysts surveyed by LSEG forecast adjusted sales of $2.15 and $23.39 billion.
Ameris Bancorp – Shares rose about 1% after DA Davidson upgraded Ameris Bancorp to “buy” from “neutral,” saying the company was “uniquely insulated” from unrealized losses related to higher interest rates.
Arm Holdings – The semiconductor stock rose about 2% a day after several analysts, including JPMorgan, Deutsche Bank and Goldman Sachs, began bullish coverage on the stock.
Akero Therapeutics – The biotech company plunged more than 63% after reporting initial trial data related to a Phase 2B trial of the cirrhosis drug efruxifermin.
—CNBC’s Jesse Pound and Sarah Min contributed reporting