Check out the companies making headlines before the market opens. Wolfspeed – Semiconductor stocks fell nearly 5% after Mizuho downgraded the stock to underperform from neutral. The company expects the price of silicon carbide, a semiconductor material used in electric vehicles, to fall by about 10% to 20% year-on-year by 2025. Another potential headwind for the company. NVIDIA – Shares of the AI chip giant rose after CEO Jensen Huang said on CNBC’s “Closing Bell: Overtime” on Wednesday that the company is seeing “insane” demand for its next-generation AI graphics processor, Blackwell. More than 1%. The CEO also said Blackwell, which is expected to ship in the fourth quarter, is on track. Hims & Hers Health — Shares of the telemedicine company fell about 9% after the U.S. Food and Drug Administration said a shortage of Eli Lilly’s GLP-1 treatment has been resolved. Hims & Her Health has previously developed compound diet pills in response to shortages. EVgo — Shares of EVgo rose more than 9% after JPMorgan upgraded the electric vehicle charging company to “overweight.” Analyst Bill Peterson pointed to EVgo’s utilization compared to peers and its owner-operator model as catalysts. Levi Strauss — The denim maker lowered its full-year revenue guidance and third-quarter revenue fell short of analysts’ expectations, sending its shares tumbling 12%. The company is also considering selling its underperforming Dockers business. Constellation Brands – The beverage company rose slightly on better-than-expected fiscal second-quarter profit. Constellation Brands earned $4.32 per share, beating StreetAccount’s estimate of $4.08 per share. However, revenue of $2.92 billion was slightly below expectations. The company also reiterated its full-year earnings per share guidance. Stellantis – Shares of Stellantis fell more than 3% in premarket trading after Barclays downgraded the stock to equal weight from overweight. “We were caught off guard on STLA, were too slow to acknowledge its U.S. inventory issues, and eroded EU/U.S. market share,” analyst Henning Cosman wrote. —CNBC’s Brian Evans, Lisa Han , Jesse Pound and Sean Conlon contributed reporting
