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Rivian, Poshmark, Tesla Rise Premarket; Kalvista Pharmceuticals Falls

Investing.com
·2-min read

By Peter Nurse

Investing.com -- Stocks in focus in premarket trade on Tuesday, October 4th. Please refresh for updates.

Rivian Automotive (NASDAQ:RIVN) stock rose 8.7% after the electric vehicle manufacturer reported third-quarter deliveries that were in line with its expectations and said it was on track to meet its annual production guidance.

Poshmark (NASDAQ:POSH) stock rose 13% after the South Korean e-commerce company Naver announced the $1.2 billion purchase of the fashion resale platform.

Apple (NASDAQ:AAPL) stock rose 1.9% after Foxconn, the world's largest contract electronics maker and a major supplier to the iPhone maker, said it was "cautiously optimistic" about its fourth-quarter revenue outlook after reporting record-breaking September sales.

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Tesla (NASDAQ:TSLA) stock rose 3.2%, rebounding from its steepest selloff in four months in the wake of disappointing quarterly vehicle deliveries.

Gilead Sciences (NASDAQ:GILD) stock rose 3.3% after JPMorgan upgraded its stance on the pharma company to ‘overweight’ from ‘neutral’, saying the undervalued stock can rally nearly 30%.

Domino’s Pizza (NYSE:DPZ) stock rose 2.9% after UBS upgraded its stance on the pizza chain to ‘buy’ from ‘neutral’, saying demand slowdown concerns are overblown.

Kalvista Pharmaceuticals (NASDAQ:KALV) stock slumped 46% after the drugmaker said it had ended a mid-stage study for its drug to prevent recurrent swelling attacks in people with hereditary angioedema, due to safety concerns. Bank of America (NYSE:BAC) stock rose 1.8% after the lender announced plans to invest $100 million in banks that focus on minority communities, taking equity stakes of less than 5% of each lender.

HSBC (NYSE:HSBC) ADRs rose 4.2% after the U.K. bank announced that it’s considering selling its Canada business, one of the biggest international banking brands in the country.

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