Check out some of the companies making headlines before the stock market’s opening bell: Autozone — The automotive parts distributor dropped more than 5% after AutoZone CEO Phil Daniele said international sales were challenged in its most recent quarter, even as domestic sales continued to do well. The company posted third-quarter revenue of $4.84 billion, below the FactSet consensus estimate of $4.86 billion. Quarterly earnings of $38.07 per share did exceed the expected $36.22. Eli Lilly — The pharmaceutical stock gained 1% after Eli Lilly said it’s acquiring three companies — Curevo Inc. LimmaTech Biologics AG and Vaccine Company — to build its infectious diseases portfolio. Ferrari — Shares of the Italian luxury carmarker fell 3% after Ferrari launched its first fully electric vehicle , called Luce, at a venue in Rome. Lear Corp. — Shares gained 2%. TD Cowen upgraded Lear to buy from hold, saying the auto parts supplier is “well-positioned” in North American auto production, which the investment bank expects will be stronger than expected. Semiconductors — Chip stocks rose premarket on hopes that the war in Iran would soon come to an end. Shares of Micron Technology were higher by more than 6%, while Qualcomm and Advanced Micro Devices were higher by more than 3%, each. Oil stocks — Energy companies declined, with Exxon Mobil and Chevron falling 1%. Space stocks — Space stocks rose, with Intuitive Machines rallying 10% and AST SpaceMobile gaining 6%. Cantor Fitzgerald is bullish on the group, citing a $90 million contract awarded to Rocket Lab by the U.S. Space Force for two geospatial satellites and Intuitive Machines reaffirming fiscal year guidance and expecting a contract decision on a Lunar Terrain Vehicle later this week. — CNBC’s Nicholas Wells contributed reporting
Stocks making the biggest moves premarket: RACE, LEA, LUNR, MU
