Pioneer Natural, Exxon, Tesla, Rivian, Levi Strauss, and More Stock Market Movers

Stock futures were rising in cautious trading Friday as investors prepared for U.S. jobs data, which are expected to show employers likely added jobs at a slower pace in September.Exxon Mobil is close to acquiring Pioneer Natural Resources , the shale-drilling company, in a takeover that could be worth roughly $60 billion, The Wall Street Journal reported. The deal could be finalized in the coming days, the Journal reported, citing people familiar with the matter.

Tesla cut prices of its Model 3 and Model Y vehicles in the U.S., according to the electric-vehicle maker’s website. The Model 3 was reduced to $38,990 from $40,240, while prices on the Model Y long-range vehicle were cut to $48,490 from $50,490. The Model Y performance car was lowered to $52,490. The price cuts The price cuts follow Tesla ‘s report of 435,059 deliveries in the third quarter, which missed analysts’ estimates. Tesla declined 1.3%.

Rivian Automotive rose 1.6% in premarket trading after tumbling 22.9% on Thursday, the stock’s largest percentage drop on record. The plunge came after the EV truck maker issued disappointing guidance and announced plans to raise more funds. Levi Strauss said it was lowering its financial forecasts “given the ongoing uncertainty in the macro environment.” The jeans maker said it expected adjusted profit in the fiscal year to be “on the low end” of a prior forecast of between $1.10 and $1.20 a share. The company also forecast fiscal-year sales to be flat to up 1%, compared with previous expectations for growth of 1.5% to 2.5%. Levi Strauss was down 1.3%.

Aehr Test Systems reaffirmed its fiscal 2024 guidance despite improved fiscal first-quarter profit and a revenue jump of 93%. Shares of the maker of semiconductor test and production burn-in equipment fell 13% in premarket trading.

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Exxon Mobil in advanced talks for $60 billion acquisition of Pioneer-sourcesExxon Mobil in advanced talks for $60 billion acquisition of Pioneer-sources
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