Tesla (TSLA) is expected to report third-quarter deliveries on Monday. Estimates varied, but according to FactSet, the electric vehicle giant will most recently record 461,000 deliveries. Tesla delivered around 466,000 vehicles in the second quarter. Separately, a report states that Tesla has also unveiled an updated version of its Model Y in China. The stock rose 0.4% in premarket trading.
U.S.-listed shares of Chinese electric vehicle makers NIO (NIO), XPeng (XPEV) and Li Auto (LI) also traded higher after the companies reported a combined 66,831 deliveries in September, up 116% from a year earlier. It was the second best combined month ever. NIO rose 0.4%, XPeng gained 0.8% and Li Auto gained 1.4%.
Rivian Automotive (RIVN) shares rose 3% to $25 after Evercore ISI upgraded the electric vehicle maker to Outperform from In Line and set a $35 price target.
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AMC Entertainment (AMC) rose 1.6% after the movie theater chain said it would release a film based on Beyonce’s Renaissance World Tour worldwide. “Renaissance: A Film by Beyonce” will officially be released in theaters on December 1st in the US, Canada and Mexico. AMC announced in August that it would release and distribute the concert film “Taylor Swift: The Eras Tour” on October 13 as a global distribution partner.
Apple (AAPL) was up 0.2%. The company announced over the weekend that it plans to release an iOS 17 software update to address overheating issues with the recently released iPhone 15.
Earnings reports are expected this week from Constellation Brands (STZ), Lamb Weston (LW), Conagra Brands (CAG) and Levi Strauss (LEVI).
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Write to Joe Woelfel at [email protected]