Check out the companies making headlines before the market opens. U.S. Steel – U.S. Steel shares fell nearly 8% after U.S. President Joe Biden blocked Japanese company Nippon Steel’s $14.9 billion acquisition of U.S. Steel, saying: “U.S. Steel will remain a proud American company. Biden Says Domestic Steel Industry a National Security Priority Blockchain – Raymond James upgraded the fintech company’s stock to outperform from market perform, saying even after recent gains. The company’s valuation remains attractive after the company said Block’s total seller payment volume will be a catalyst for the stock’s 2025 acceleration story. Shares of the online used-car seller fell more than 2% after firm Hindenburg Research claimed on Thursday that Carvana’s recent improvements were a “mirage” supported by shaky lending and accounting manipulation. Chewy — The pet-focused e-commerce stock rose more than 2% after Wolfe Research upgraded the stock to outperform from peer perform. Wolf also named Chewy a top pick among Internet stocks. The company cited expectations for rising earnings, a better macro backdrop and product catalysts as reasons for optimism. Las Vegas Sands — The stock rose more than 3% after Jefferies upgraded the stock to buy from hold. The company said “improvements in the macro environment” in Macau will enhance this spending power, leading to incremental growth in the short term. Constellation Energy — Shares edged up nearly 2%, extending gains from Thursday when Constellation announced it would provide the U.S. government with nuclear power contracts worth more than $1 billion over the next decade. —CNBC’s Alex Harring and Sean Conlon contributed reporting.
