Check out the companies making headlines before the bell: QXO – The architectural product distributor has added 4.8% after announcing it will acquire the supply of rival beacon roofs on a contract worth $11 billion. The transaction is expected to close by the end of April. Beacon’s shares were trading 2% higher. PDD Holdings – Temu’s parent company fell 6% after reporting lower than forecast revenue in the fourth quarter. PDD posted adjusted earnings of 18.53 yuan per share on revenues of 1100.6 billion yuan, or $15.2 billion. Analysts voted by FactSet predicted revenue of 19.85 yuan per share against revenue of 113.6 billion yuan. Under 5 – Stocks rose 7.8% after discount retailers posted fourth quarter revenue and revenue beats. In the last quarter, five of the following reported revenues of $3.48 per share at $13.9 billion, while analysts voted by LSEG expected revenues to be $3.37 per share and revenues of $1.38 billion. Tesla – Shares in the electric car maker fell 2.7% after Tesla recalls 46,096 cybertruck vehicles in the US and fixed an external trim panel that could peel off while driving and become a road hazard. This latest recall will be added to a series of callbacks for pickup trucks since 2024. Cava – The Mediterranean high-speed casual chain popped 2.5% after JPMorgan’s neutral to overweight upgrade. Analyst John Ivancoe called the stock “buy it now and own it for the long term.” Microchip Technology – The semiconductor manufacturer has slipped 4.9% after announcing plans to offer a $1.35 billion convertible stock. Microchip said it will use a portion of its net income to repay existing debts and pay the costs of CAPPID Call Transactions, a type of derivative equipment. COTY-After Citi upgraded its stock to buy from neutral, the beauty and cosmetics manufacturer popped 3.4%. Analyst Filippo Falorni said the stock offered a unique opportunity for investors. Boston Beer – Shares rose 2.2% following City upgrades to buy from Neutral. City said 2025 could return to twisted tea and true parental volume growth. CARVANA – Stock on the Used Car Platform added 2.6% to overweight from neutral after an upgrade in Piper Sandler. The company said Calvana is “insulated” from the threat of tariffs and is currently in a position to grow. Freeport-McMoran – Stocks rose 1.6% after JPMorgan upgraded the American mining company from neutral to overweight. The company’s $52 price target means an upside of about 30% from the end of Wednesday. Stellantis – After a downgrade from overweight to neutral at Piper Sandler, the automaker slipped 4%. Analyst Alexander Potter said there was too much uncertainty for him to continue to recommend Stellantis. The insurance company has collected nearly 50% of the news that the medical insurance company, a fraudulent insurer, gets it for $25 per share. Cash transactions, which are expected to close in the first half of 2026, focus on a prosperity of approximately $1.3 billion. Rivian – Stocks fell 2.5% after Piper Sandler downgraded the electric car maker from overweight. The company said Libian had a “favourable multi-year outlook” but it lacked a stock catalyst in 2025. Darden Restaurant – Olive Garden’s parent stock fell almost 2% on quarterly results. The company won $2.80 excluding certain items, breaking its LSEG forecast of $2.79 per share. However, revenue was $3.16 billion, while the consensus estimate was $3.21 billion. Sales at comparable restaurants also increased more than expected. – Reported by CNBC’s Michelle Fox, Alex Hurling, Hakyung Kim, Sarah Min and Pia Shin.
The largest move stocks are 5, MCHP, PRA
