Check out the companies making headlines before the bell. Qualcomm — The semiconductor stock shed 2% following a downgrade from Citi to neutral from buy . While Qualcomm beat both earnings and revenue estimates for the fourth quarter , Citi analyst Christopher Danely was disappointed by the company’s lower-than-expected guidance for the current quarter. General Motors — Shares added about 1% after Morgan Stanley maintained its overweight rating and raised its price target on the stock, noting General Motors’ focus shift back to internal combustion engine vehicles as fully electric models fail to gain enough popularity among consumers. The stock is trading at a low multiple compared to spending, the firm highlighted as a key catalyst for investors. Nextracker — Shares of the solar technology company jumped 17% on bullish analyst notes following its strong quarterly results and guidance increase. Barclays maintained its overweight rating on the stock, saying the company’s positioning with its U.S. suppliers will lead to market share gains and/or “superior gross margins compared to peers.” Bank of America also pointed to Nexttracker’s margin expansion strength, maintaining a buy on the stock. Wolfspeed — The semiconductor stock dropped 5% after the company gave weak revenue guidance postmarket Wednesday. Wolfspeed guided for fiscal third-quarter revenue of $185 million to $215 million, below the $224 million, LSEG estimate. However, Wolfspeed reported a narrower-than-expected loss and beat on revenue for its second quarter. ChargePoint — Shares of the electric vehicle charging company gained 3.7% after TD Cowen raised its price target and said ChargePoint could be a “potential long-term winner,” even as the firm anticipates 2024 to be another tough year. C.H. Robinson — The logistics company dropped more than 6% after missing earnings and revenue expectations due to a challenging demand and pricing environment. C.H. Robinson reported 50 cents per share…
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