Here’s a look at the companies making headlines in premarket trading: Thor Industries – Shares of Thor Industries fell 2% after the RV maker issued disappointing fiscal-year earnings guidance. The company expects earnings of $4 to $5 per share, well below StreetAccount’s estimate of $6.27 per share. Arlo Technologies — Shares of Arlo Technologies rose 3% after the security systems company approved a $50 million stock buyback program. It’s been a strong year, with the company’s shares surging about 24.5% in 2024. Citi said it was shifting its preference to Mastercard because of this “growing regulatory overhang.” Starbucks — Shares of the coffee shop chain fell 1.6% after Jefferies downgraded Starbucks stock to underperform from hold and lowered its price target. The company noted lower visibility in the U.S. and China in the near term and expected downward revisions to its near- and medium-term forecasts. Salesforce — Shares of Salesforce rose 2% after Piper Sandler upgraded the software company to overweight and raised its price target, citing favorable risks given the company’s potential to double free cash flow per share by fiscal 2029/ Return. Lowe’s — The home improvement stock rose 1.2% after Oppenheimer upgraded the stock to “outperform” from “perform.” The company said demand should improve as the Federal Reserve cuts interest rates and sees compelling long-term fundamentals. BioNTech — Shares of the U.S.-listed German biotech company rose 2.7% after Morgan Stanley upgraded the stock to overweight from equal share. BioNTech has executed an extensive clinical development program, the company said. Pinterest — Shares of the photo-sharing company rose more than 1% after Oppenheimer initiated an outperform report on the stock. Pinterest’s strong advertising business and integration with large e-commerce platforms should drive further growth, the investment firm said. GE Vernova — Shares of GE Vernova rose nearly 1% after Guggenheim issued a buy rating on the company, saying the company “remains in the early stages of a multi-year profitability improvement.” Analyst Joseph Osha’s $300 price target implies an upside of about 19% from Monday’s closing price. —CNBC’s Sarah Min, Michelle Fox, Pia Singh, Sean Conlon, Jesse Pound and Fred Imbert contributed reporting.
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