Rail stocks, Arconic, NextEra Energy and more

News Update - Premarkets

Check out the companies making headlines before the bell:

Union Pacific ( UNP ), CSX ( CSX ), Norfolk Southern ( NSC ) – Railroad stocks are all higher in the premarket after news of a tentative deal averting a rail workers’ strike. CSX, which also named former Ford Motor ( F ) Chairman Joe Hinrichs as its new CEO, rose 4.1% in premarket, with Union Pacific up 3.95% and Norfolk Southern up 1.5% .

Arconic (ARNC) – Arconic fell 9.8% in premarket trading after the aluminum products maker cut its full-year forecast due to various production costs and higher energy costs in Europe.

NextEra Energy (NEE): NextEra Energy plans to sell $2 billion in equity units, with the alternative energy company planning to add the proceeds to the general funds of its subsidiary NextEra Energy Capital Holdings. Shares fell 3.5% in premarket.

Danaher (DHR) – Danaher gained 4.2% in premarket trading after the medtech company announced plans to spin off its environmental and applied sciences unit into a separate company. The transaction is expected to close in the fourth quarter of 2023.

AIG (AIG): The insurer’s life insurance unit, CoreBridge, raised $1.68 billion in the largest initial public offering of 2022. In the IPO, 80 million shares were sold of CoreBridge at $21 per share, at the low end of the expected range of $21 to $24. . AIG gained 1.75 in the premarket.

Nordstrom (JWN) – Shares of the department store operator rose 2.6% in premarket action after Jeffries upgraded the stock to “buy” from “hold.” The company said younger and more affluent consumers will spend on major wardrobe upgrades, and Nordstrom is best poised to benefit from that trend.

Wynn Resorts ( WYNN ) — The casino and resort operator was upgraded to “outperform” from “neutral” at Credit Suisse, which called Wynn one of the gaming industry’s most compelling stories. Wynn rose 2.5% in premarket trading.

Netflix ( NFLX ) — Shares of the streaming service rose 2.5% in premarket trading after an Evercore ISI upgrade to “outperform” from “online.” Evercore based its opinion on Netflix’s revenue opportunities based on its projected level of advertising support and limits on password sharing.

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