Check out the companies making headlines before the bell:
Delta Air Lines (DAL) — Delta jumped 3.8% in premarket trading after the airline raised its current quarter forecast and issued a positive outlook for 2023, citing robust travel demand.
Tesla (TSLA) – Goldman Sachs cut its price target for Tesla to $235 a share from $305, citing weaker demand. Tesla shares have fallen about 40% since the end of September, falling briefly below $500 billion in market capitalization on Tuesday.
Modern (MRNA) – Moderna rose another 1.6% in premarket trading on top of yesterday’s 19.6% gain. Tuesday’s push followed a successful study of a skin cancer treatment involving an experimental Moderna vaccine in combination with Merckits (MRK) cancer drug Keytruda.
Best buy (BBY) — The electronics retailer’s shares fell 3% in premarket trading after BofA Securities downgraded it to underperform from neutral, citing a challenging environment to achieve earnings growth.
Aspen Group (ASPU) — Aspen Group surged 14.8% in premarket shares after the online education company reported better-than-expected quarterly revenue and improved profit margins.
ABM Industries (ABM) – ABM Industries reported better-than-expected profit and revenue for its latest quarter. But the construction services provider gave an outlook that fell short of consensus estimates. The stock fell 3.9% in pre-market trading.
Darden restaurants (DRI) – The parent of Olive Garden and other restaurant chains was upgraded to outperform from neutral at Wedbush on market share expectations for Darden in an uncertain consumer environment. Darden rose 1% in premarket trading.
Pacar (PCAR) — Paccar gained 1.6% in the premarket after the truckmaker’s stock was upgraded to overweight from equal weight at Morgan Stanley, which also raised its price target to $136 a share from $91. The firm said Paccar is among the industrial stocks poised to benefit from a sector recovery.