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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Levi Strauss trims guidance as it weighs sale of Dockers businessDenim-maker Levi Strauss is looking to sell its Dockers brand as the khaki maker drags down the company’s overall performance.
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Levi Strauss CEO Sees Long-Term Success With Beyoncé Partnership Amidst Business ChallengesLevi Strauss CEO Michelle Gass highlighted the potential of the denim retailer's partnership with Beyoncé to boost women's clothing sales, while also addressing recent challenges facing the company.
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