We may earn commissions if you use the recommended services on this site.  

Levi Strauss, Costco, ChargePoint, Mattel, and More: Pre-Market Stocks with Significant Movement

Latest Business News

Premarket Trading Highlights: Sirius XM, Levi Strauss, Costco, ChargePoint, XPO, Lucid, Rivian, and Mattel

Here are the key updates on companies making headlines in premarket trading:

Sirius XM

Shares of media company Sirius XM fell approximately 2% in premarket trading following Liberty Media's proposal to combine the Sirius XM tracking stock with the radio company. A special committee composed of board members of Sirius XM is currently evaluating the proposal.

Levi Strauss

Apparel maker Levi Strauss saw a 1.3% increase in premarket trading after TD Cowen initiated coverage of the stock with an outperform rating. TD Cowen believes that Levi's is in the "early innings of a favorable denim cycle," contributing to the positive outlook for the company.


Despite a better-than-expected fiscal fourth-quarter response, shares of club retailer Costco fell more than 1%. The company reported earnings per share of $4.86 on $78.9 billion of revenue, surpassing analysts' expectations. However, comparable sales in the U.S. only saw a modest increase of 0.2%.


Electric vehicle charging stock ChargePoint experienced a surge of over 4% after UBS initiated coverage with a buy rating. UBS cited the recent stock performance as creating an attractive risk-reward opportunity for investors.


Trucking company XPO climbed approximately 2% following an upgrade to outperform from Evercore ISI. Analyst Jonathan Chappell predicts greater margin expansion and pricing power for the company.

Lucid and Rivian

Shares of electric vehicle makers Lucid and Rivian rose by 2.1% and 2%, respectively. Both stocks experienced an increase the previous day as the United Auto Workers strike intensified, gaining support from President Joe Biden, who joined a picket line in Michigan.


Toymaker Mattel saw a 2.4% gain in premarket trading after Morgan Stanley initiated coverage with an overweight rating, considering it a top pick. Despite a challenging macroeconomic environment, Morgan Stanley believes Mattel offers some of the best risk-adjusted returns. As the market continues to evolve, investors should closely monitor these developments and assess the potential impact on the respective companies.

Implications of Premarket Trading Highlights on New Business Formation

The recent premarket trading highlights provide valuable insights into the current business landscape, which could significantly impact new business formation.

Media and Apparel Industries

The proposed combination of Sirius XM tracking stock with the radio company by Liberty Media could signal potential consolidation trends in the media industry. This might present challenges for new businesses looking to enter this sector. Conversely, the positive outlook for Levi Strauss, driven by the "early innings of a favorable denim cycle," could indicate opportunities for new businesses in the apparel industry.

Retail and Electric Vehicle Charging Sectors

Despite better-than-expected fiscal results, Costco's shares fell, suggesting that financial performance alone might not guarantee stock stability in the retail sector. Meanwhile, the surge in ChargePoint's stock following UBS's buy rating indicates a growing investor interest in the electric vehicle charging sector, potentially creating opportunities for new businesses in this field.

Transportation and Electric Vehicle Manufacturing

The upgrade of trucking company XPO to outperform suggests potential growth in the transportation sector, which new businesses could capitalize on. The rise in shares of electric vehicle makers Lucid and Rivian, amid the intensifying United Auto Workers strike, could imply labor-related challenges that new businesses in this sector need to consider.

Toymaking Industry

The gain in Mattel's shares following Morgan Stanley's overweight rating highlights the potential for risk-adjusted returns in the toymaking industry, despite a challenging macroeconomic environment. This suggests that new businesses in this sector could still thrive with the right strategies. These premarket trading highlights underscore the importance of understanding industry trends and dynamics when forming new businesses.
Story First Published at: https://www.cnbc.com/2023/09/27/stocks-making-the-biggest-moves-premarket-levi-strauss-costco-chargepoint-mattel-and-more.html
Brought to you by BusinessFormation.io
Know Your State's Registered Agent Requirements: What is a Registered Agent
Learn How To Create An LLC: What Is An LLC and How To Start an LLC Online

LLC Filing & Registered Agent Services

Compare Online LLC Filing Services Today

We work with the market leaders in business formation and registered agent services.

Getting started is simple and inexpensive. Form your business today & secure your brand name before someone beats you to it! Click below to view the Top 3 Best LLC and registered agent service providers.
View Top 3 Providers Now

Filing An LLC Can Be Complicated

Streamline Your LLC Filing Online for $39

Northwest Registered Agent is the best-rated service for first time filers.

Get professional LLC formation & registered agent services for only $39 + state filing fee. This offers includes your full LLC setup, plus a private business address, lifetime support, and more.

Trusted by Millions. Save 82% Today.