META, RIVN, WW, KEY and more

Visitors take photos in front of the Meta (Facebook) sign at the headquarters in Menlo Park, California, on Dec. 29, 2022.

Tayfun Coskun | Anadolu Agency | Getty Images

Check out the companies making the biggest strides in premarket trading:

Meta – Meta shares gained 2% after a Bloomberg report announced that the company is planning another round of layoffs this week. The company cut 13% of its workforce earlier in November as part of CEO Mark Zuckerberg’s efforts to make the company more profitable.

Rivian – The electric vehicle maker fell nearly 7% after announcing Monday that it plans to sell $1.3 billion worth of bonds. The capital will help facilitate the launch of Rivian’s R2 vehicles, a spokesman told Reuters.

WW International – Shares of the company formerly known as Weight Watchers rose as much as 17.6% in premarket trading after announcing a deal to acquire telehealth company Sequence. The move could help WW enter the obesity drug market. WW also reported fourth-quarter results, which showed year-over-year revenue declines and a net loss of $32.5 million. However, the stock still trades below $5 per share, with a small market cap.

Joby Aviation – The electric aircraft maker fell more than 4% after being put on hold by Deutsche Bank to be sold. The Wall Street firm said the plane’s weight raised questions and led it to question whether the design is “overly aggressive.”

Dick’s Sporting Goods — The sporting goods retailer rose more than 6% after fourth-quarter results beat Wall Street expectations. Same-store sales rose 5.3%, more than double analyst estimates of 2.1%, according to StreetAccount.

KeyCorp – The bank lost 2.3% after issuing a full-year net interest income guidance that was lower than the previous guidance, according to an 8-K filing on Monday.

Juniper Networks – The networking hardware company added more than 1% after Goldman Sachs initiated the stock with a buy rating. The $39 price target implies a 24.5% increase from Monday’s close.

Mineralys Therapeutics – The healthcare company gained about 3% after Credit Suisse began covering the stock with an outperform rating and a price target of $40, suggesting an upside of more than 100%. The Wall Street firm said there is a large unmet need for drug-resistant hypertension treatment and said Mineralys has “potentially best-in-class” data.

Hesai Group – The stock gained 1.4% in light premarket trading after Morgan Stanley began covering the stock with an overweight rating and a price target of $26.50, implying an increase of nearly 40%. The Wall Street firm said Hensai “outperforms peers, with its superior scale and margin, and its strong project pipeline.”

– CNBC’s Jesse Pound, Hakyung Kim and Alex Harring contributed reporting.


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