NIO, Moderna, Block, US Metal, Rocket Lab, AutoZone, and extra market drivers

US-listed shares of NIO (image: NIO) fell 5.4% in pre-market buying and selling after the Chinese language electrical automobile maker stated it plans to lift $1 billion by the issuance of convertible senior notes. NIO stated it plans to make use of a portion of the proceeds from the providing to cut back its debt, and the rest “primarily to additional strengthen its steadiness sheet place in addition to for basic company functions.”

Moderna (MRNA) inventory rose 0.4% in pre-market buying and selling after falling greater than 9% within the earlier session after Pfizer’s (PFE) CFO predicted… Demand for Covid vaccines has weakened this yr. Moderna was the worst performer in

Customary & Poor’s 500

on monday.

US Metal (X) issued third-quarter monetary steering that was higher than anticipated. Shares of the steelmaker rose 1.9% in premarket buying and selling. US Metal anticipated adjusted earnings of $1.10 to $1.15 per share, beating analysts’ estimates of $1.01. The metal producer stated the steering displays the anticipated influence of the United Auto Staff strike.

Rocket Lab (RKLB) inventory fell 26% in pre-market buying and selling after the area firm stated it “skilled a problem” through the launch of its forty first mission. “After liftoff from Launch Advanced 1, the rocket efficiently accomplished first stage burn and stage separation as deliberate, earlier than an issue occurred at roughly T+ 2 minutes and 30 seconds of flight, ensuing ultimately of the mission.” The laboratory stated in a press release. Rocket Lab added that the corporate’s subsequent mission, which was scheduled earlier than the tip of the third quarter, will probably be postponed.

AutoZone (AZO) inventory fell 1.8% after the auto components maker simply beat earnings and gross sales estimates for its fiscal fourth quarter, however gross sales on the firm’s home enterprise division got here up brief.

CVS Well being (CVS) was upgraded to Outperform from In Line at Evercore ISI and its worth goal was raised to $83 from $81. CVS shares rose 0.9% to $71.35.

roadblock

(SQ) fell 0.8% after asserting the resignation of Alyssa Henry, head of the corporate’s Sq. funds platform, on October 2. Henry has been working at Block for greater than 9 years. Jack Dorsey, who leads Block’s general enterprise, will take over the function of Henry, the corporate stated in a press release on Monday.

Apogee Enterprises (APOG) inventory rose 6.5% after the architectural services and products firm reported better-than-expected adjusted fiscal earnings for the second quarter and raised its outlook for the fiscal yr.

Rackspace Expertise (RXT) rose 8.1% to $1.60 after shares of the cloud computing firm had been upgraded to Outperform from Market Efficiency at Raymond James with a worth goal of $3.50.

Sew restore (SFIX) reported A A 22% lower in revenues for the fourth fiscal quarter The net private styling firm noticed its energetic buyer base drop to three.3 million from 3.4 million within the earlier quarter and three.8 million a yr earlier. The corporate stated it expects first-quarter income to vary from $355 million to $365 million, down 18% to twenty% from a yr earlier, and beneath analyst estimates of about $402 million. Shares fell 8.2% in pre-market buying and selling.

Write to Joe Woelfel at [email protected]