Palantir headquarters in Palo Alto, California, May 10, 2023.
David Paul Morris | Bloomberg | Getty Images
Check out the companies making headlines when it comes to pre-market trading.
Palantir Technologies — Shares of the data analytics company rose 2.3% following news that the U.S. military awarded the company a $250 million contract to test and develop artificial intelligence and machine learning.
Unity software — The game engine’s stock jumped nearly 6% after the company announced that CEO John Riccitiello would retire. Unity said James M. Whitehurst would assume the role of interim chief.
Rivian Automobile — 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 were improving and the stock rose after a recent $1.5 billion capital raise sparked a selloff.
PepsiCo — Shares of the beverage giant rose about 1% after a higher third-quarter profit. The company reported adjusted revenue of $2.25 per share of $23.45 billion, while analysts surveyed by LSEG forecast adjusted revenue 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 is “particularly protected” from unrealized losses related to higher interest rates.
Arm Holdings — Semiconductor stock rose about 2% daily after several analysts initiated bullish coverage of the stock, including JPMorgan, Deutsche Bank and Goldman Sachs.
Akero Therapeutic — Shares of the biotechnology company fell more than 63% after the release of early trial data related to a Phase 2B study of the cirrhosis drug efruxifermin.
— CNBC’s Jesse Pound and Sarah Min contributed reporting.