Stocks making the biggest moves premarket: Rivian, FedEx, Whirlpool, Nvidia, Micron and more

by | Jun 26, 2024 | Financial

Check out the companies making headlines before the bell. Rivian Automotive — Shares of Rivian Automotive skyrocketed more than 40% after the electric vehicle company secured up to $5 billion in funding from Volkswagen Group. The initial investment totals $1 billion, with another $4 billion expected by 2026. A so-called short squeeze added fuel to the gain as about 19% of the Rivian shares available for trading were sold short before this news, according to FactSet. FedEx — FedEx shares popped 14% on strong fiscal fourth-quarter results . The shipping giant surpassed Wall Street’s estimates on the top and bottom lines and reported a 16% in capital spending from fiscal year 2023 as its cost-cutting measures take effect. Whirlpool — Whirlpool shares surged more than 18% following a Reuters report that Bosch is reportedly weighing an offer for the home appliance company. Southwest Airlines — Shares slumped 3% after the airline cut its second-quarter revenue outlook due to a shift in booking behavior. Southwest said it anticipates revenue per available seat mile to decline between 4% and 4.5% during the period from a year ago. The company previously expected a drop of 1.5% to 3.5%. General Mills — The consumer foods company dropped 4% before the bell on mixed quarterly results. General Mills topped earnings estimates for the recent quarter but …

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[mwai_chat context=”Let’s have a discussion about this article:nnCheck out the companies making headlines before the bell. Rivian Automotive — Shares of Rivian Automotive skyrocketed more than 40% after the electric vehicle company secured up to $5 billion in funding from Volkswagen Group. The initial investment totals $1 billion, with another $4 billion expected by 2026. A so-called short squeeze added fuel to the gain as about 19% of the Rivian shares available for trading were sold short before this news, according to FactSet. FedEx — FedEx shares popped 14% on strong fiscal fourth-quarter results . The shipping giant surpassed Wall Street’s estimates on the top and bottom lines and reported a 16% in capital spending from fiscal year 2023 as its cost-cutting measures take effect. Whirlpool — Whirlpool shares surged more than 18% following a Reuters report that Bosch is reportedly weighing an offer for the home appliance company. Southwest Airlines — Shares slumped 3% after the airline cut its second-quarter revenue outlook due to a shift in booking behavior. Southwest said it anticipates revenue per available seat mile to decline between 4% and 4.5% during the period from a year ago. The company previously expected a drop of 1.5% to 3.5%. General Mills — The consumer foods company dropped 4% before the bell on mixed quarterly results. General Mills topped earnings estimates for the recent quarter but …nnDiscussion:nn” ai_name=”RocketNews AI: ” start_sentence=”Can I tell you more about this article?” text_input_placeholder=”Type ‘Yes'”]
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