© Reuters. Pre-Open Movers: Change Healthcare Up on Merger Ruling, Nike Falls on Downgrade
Pre-Open Stock Movers:
Change Healthcare (NASDAQ:) 7% HIGHER; defeating a Justice Department lawsuit that sought to block UnitedHealth Group’s (NYSE:) $7.8 billion acquisition of the company.
Louisiana-Pacific Corp (NYSE:) 5% LOWER; BofA Securities downgraded from Neutral to Underperform with a price target of $56.00 (from $64.00).
Cognex Corporation (NASDAQ:) 4% HIGHER; increased its revenue guidance for the third quarter of 2022 ahead of the company’s triennial Analyst Day. The company now expects revenue to be between $195 million and $205 million as compared to the company’s previous guidance of $160 million to $180 million, which was given on August 2, 2022.
Ford Motor Company (NYSE:) 4% LOWER; said inflation-related supplier costs during the third quarter will run about $1.0 billion higher than originally expected.
Norwegian Cruise Line Holdings (NYSE:) 3% HIGHER; Truist Securities upgraded from Hold to Buy with a price target of $19.00 (from $18.00).
Nike (NYSE:) 3% LOWER; Barclays downgraded from Overweight to Equalweight with a price target of $110.00 (from $125.00).
PayPal (NASDAQ:) 2% LOWER; Susquehanna downgraded from Positive to Neutral with a price target of $100.00 (from $115.00).
Weyerhaeuser (NYSE:) 2% LOWER; BofA Securities downgraded from Buy to Neutral (from $38.00).
Enovix Corp (NASDAQ:) (ENVX) 1% HIGHER; Piper Sandler initiates coverage with an Overweight rating and a price target of $29.00.
General Motors Company (NYSE:) 2% LOWER; lower as peer Ford warns about $1 billion in higher costs related to inflation.
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