Apple, ChargePoint, Pinterest Rise Premarket; Nio, Newell Brands Fall

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Apple, ChargePoint, Pinterest Rise Premarket; Nio, Newell Brands Fall

By Peter Nurse -- Stocks in focus in premarket trade on Wednesday, September 7th. Please refresh for updates.

  • Apple (NASDAQ: AAPL ) stock rose 0.1% ahead of the company's 'Fall Out' fall event, which is expected to see the unveiling of the new iPhone 14, despite expectations of only modest incremental changes to its design and capabilities.

  • Nio (NYSE: NIO ) ADRs fell 5.7% after the Chinese electric vehicle manufacturer reported a wider loss in the second quarter despite an increase in shipments.

  • Newell Brands (NASDAQ: NWL ) stock fell 5.4% after the consumer goods company revised its third-quarter revenue guidance lower, citing the "continued inflationary pressures on the consumer."

  • ChargePoint (NYSE: CHPT ) stock rose 3.3% after Credit Suisse (SIX: CSGN ) initiated coverage of the electric vehicle infrastructure company at 'outperform', saying the stock can rally 50% as the climate bill boosts EV adoption.

  • Pinterest (NYSE: PINS ) stock rose 4.8% after Wolfe Research upgraded its stance on the image sharing service to 'outperform' from 'peer perform', citing likely long-term user and monetization growth under the new CEO.

  • Cogent Communications (NASDAQ: CCOI ) stock fell 2% after the company announced it would acquire T-Mobile US's wireline business for an undisclosed amount. T-Mobile US (NASDAQ: TMUS ) stock rose 0.4%.

  • Target (NYSE: TGT ) stock fell 0.4% after the retailer announced Brian Cornell would stay on as chief executive officer for three more years, with the company scrapping its policy of CEOs having to retire at the age of 65.

  • Repsol (BME: REP ) (OTC: REPYY ) ADRs fell 0.6% after the Spanish oil and gas company said it will sell 25% of its upstream business to U.S. investment group EIG, with an eye to listing the business in New York in four years or so.

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