Check out the companies making headlines before the bell:
Keurig Dr Pepper — The consumer staples stock fell 1[ads1].5% premarket after Goldman Sachs downgraded the stock to neutral from a buy rating. The Wall Street firm said it sees increased risk to Keurig’s margins as commodity inflation, particularly related to coffee, remains high.
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Lucid Group — Shares of the electric car player rose 2.7% in premarket trading after Cantor Fitzgerald initiated coverage with an overweight rating. The firm said Lucid’s luxury and premium cars offer greater efficiency, longer range, faster charging and more space compared to its peers.
Norfolk Southern, CSX — Shares of the railroads fell more than 1% each after UBS downgraded the duo, citing a worsening macro backdrop. The Wall Street firm said it will be difficult for Norfolk and CSX to reach a consensus of 25% volume growth going forward.
Li Auto — Shares of the Chinese electric car maker rose 0.5% premarket, even after the company cut its third-quarter delivery guidance by 2,500 vehicles, or 9%. The company said the downward revision was due to supply chain constraints.
Amazon, Apple, Microsoft — Big tech names Amazon, Apple, Alphabet and Microsoft all traded at least 1% higher premarket, a possible pullback from Monday’s selloff. Treasury yields retreated on Tuesday morning after the multi-year highs hit in the previous session put pressure on technology names.