Check out the companies making headlines before the market opens. Constellation Energy — The energy stock rose 2% after Bank of America upgraded its rating to “buy” from “neutral.” Analyst Ross Fowler said the company is best positioned to benefit from upcoming regulatory clarity as well as increased demand and tighter supply. He added that this potential is not yet priced into the company, leaving the stock price undervalued. Celsius Holdings — Shares of Celsius Holdings rose nearly 4% after JPMorgan issued an overweight rating on the company, citing inventory drawdowns and a reaccelerating growth in the U.S. energy drink category as catalysts. Uber — Shares of the ride-sharing company rose more than 3%, rebounding from losses earlier in the week. The stock has fallen for three days in a row, including a 5.8% drop on Wednesday after General Motors stopped funding Cruise. The self-driving unit has a partnership with Uber. Beverage Company – Deutsche Bank analyst Steve Powers upgraded Coca-Cola, PepsiCo and Keurig Dr Pepper to “buy” from “neutral.” Each stock was up about 1% in premarket trading. The analyst expects restaurant traffic to accelerate next year and impulse buying to increase, which he believes will benefit the beverage and snack industries. Adobe — The software giant issued lower-than-expected fiscal first-quarter revenue guidance, sending its shares down 11%. Adobe expects revenue in the range of $5.63 billion to $5.68 billion, compared with the LSEG consensus estimate of $5.73 billion. Oxford Industries — The apparel and footwear retailer reported third-quarter results that fell short of expectations, sending its shares down about 4%. The owner of retail brands including Tommy Bahama reported an adjusted loss of 11 cents per share on revenue of $308 million. Analysts polled by FactSet expected the company to earn 9 cents a share on revenue of $316.8 million. Chewy — Shares of Chewy were down about 3% in premarket trading after the pet supplies retailer announced a $500 million public offering of stock sold by Buddy Chester Sub. The retailer plans to purchase $50 million in stock from Buddy Chester at the same time. —CNBC’s Lisa Kailai Han, Jesse Pound, Yun Li and Michelle Fox contributed reporting.
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