Check out the companies making headlines before the bell. Wolfspeed – The semiconductor stock fell nearly 5% following a downgrade to underperform from neutral at Mizuho. The firm sees pricing for silicon carbide – a semiconductor material used in electric vehicles – being down about 10% to 20% year-over-year in 2025. Mizuho also cited lower EV production expectations both in the second half of this year and next year as another potential headwind for the company.
EVgo — Shares advanced more than 9% after JPMorgan upgraded the electric vehicle charging company to overweight . Analyst Bill Peterson pointed to EVgo's utilization rate compared to peers as well as its owner-operator model as catalysts. Levi Strauss — Shares plunged 12% after the denim maker trimmed its full-year revenue guidance and delivered fiscal third-quarter revenue that missed analysts' expectations. The company is also considering a sale of its underperforming Dockers business.
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