Check out the companies making headlines in premarket trading.
Roku — The streaming provider climbed 2% before the opening bell. A day earlier, the company announced a partnership with Shopify to allow purchases straight from Roku TV.
Beyond Meat — The plant based meat alternative added 2% on Wednesday morning. The company said Tuesday that its steak product would expand to be now be sold at roughly 14,000 stores across the U.S., including Whole Foods and Wegmans. Beyond Meat shares popped 4% in the previous session.
SunPower — The solar power company soared nearly 6% in premarket trading after an upgrade from Raymond James, which said the stock’s recent weakness is “excessive.”
Carvana — The car retailer climbed roughly 2% after an upgrade from JMP to outperform Wednesday morning, with analyst Nicholas Jones noting the company could be on the cusp of a return to growth thanks to “durable positive” EBITDA.
Netflix — The streaming giant added 0.4% Wednesday morning after UBS increased its price target on Netflix to $525 per share, implying upside of nearly 20%. Netflix will report quarterly results on July 19.
Holley Inc. — The auto parts company soared more than 15% after an upgrade to buy from Bank of America, citing improving sales momentum and better sourcing. JPMorgan Chase upgrades shares to overweight from neutral.
Stellantis — The vehicle manufacturer gained 2% after an upgrade to buy from Bank of America, which said the company could benefit against peers thanks to ample exposure to the U.S.