Rivian, Solar Edge, Sphere Entertainment and more

Check out the companies making headlines ahead of time:

Rivian Automotive – Shares rose 3.3% in the premarket. Evercore upgraded ISI to beat Rivian Automotive out of the lineup and raised its price target, saying the electric truck maker could be the next Tesla and BYD.

Sphere seen on opening night with U2:UV Achtung Baby live concert at the Venetian Resort in Las Vegas, Nevada, USA on September 29, 2023.

Tayfun Coskun | Anadolu Agency | Good pictures

SPHERE ENTERTAINMENT – Shares jumped more than 7% after the entertainment and media company opened its Sphere venue in Las Vegas on Friday night with a U2 performance. The Sphere will host live music and sporting events.

Insulet – Shares rose 3.4% in premarket trading. Jefferies held on to the medical device maker, saying investors should take advantage of recent underperformance to add exposure.

Sunnova Energy International – UBS initiated coverage of the solar company with a buy rating, lifting shares 1.5% in premarket trading. The Wall Street firm believes Sannova is well-positioned to gain market share as demand for third-party-owned residential solar systems grows. Its $16 price target represents a nearly 53% upside from Friday’s close.

Clorox – The consumer products company rose 3.3% in premarket trading after DA Davidson upgraded Clorox to buy from neutral. The investment firm said shares of Clorox could rise as the company gives investors more clarity on the fallout from the August cyberattack.

AMC Entertainment — Shares of the entertainment company rose 2% before the bell after announcing that Renaissance: A Film by Beyoncé will be distributed in the U.S. in December.

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SolarEdge Technologies – Solar shares fell 2.7% after Barclays cut SolarEdge Technologies from overweight to equal weight, saying a price cut is “inevitable” for the company next year.

Nvidia — Shares rose more than 1% after Goldman Sachs put the chipmaker on its U.S. sanctions list for the month, saying this year’s market leader will maintain its position. The Wall Street firm has a buy rating on the stock.

FedEx – Shares rose 0.5% in the premarket. Susquehanna upgraded the transportation company from neutral to positive, saying the long-term opportunity outweighs the near-term risk.

Sub – Shares fell 1.5% after JP Morgan cut Sub Ltd from overweight to neutral.

— CNBC’s Michael Fox, Lisa Hahn and Jesse Pound contributed reporting

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