Ford, Change Healthcare, Cognex and more

Wall Street will open in the red as the Fed kicks off its September meeting

Check out some of the top engines on the premarket:

Ford (F) – The automaker’s shares fell 4.5% in premarket after it warned that quarterly earnings would take a $1 billion hit from rising supplier costs and the shortage of parts. These factors contributed to a shortage of finished vehicles ready for sale.

BioNTech (BNTX), Moderna (MRNA) – Vaccine makers are seeing shares fall again this morning, after downgrading President Joe Biden’s comment yesterday that the pandemic was “over.” BioNTech fell 2.4% in premarket trading, with Moderna down 2.1%.

Change Healthcare (CHNG): Shares of the health technology company rose 7.5% in pre-market trading after a federal judge ruled against the Justice Department’s antitrust challenge to the company’s acquisition of UnitedHealth ( UNH ) for $13 billion.

Cognex (CGNX) – Shares of Cognex rose 4.7% in premarket trading after the maker of machine vision systems and sensors raised its revenue outlook for the current quarter. The move comes amid a faster-than-expected inventory recovery following a fire at major contract manufacturer Cognex.

Nike (NKE) – Nike lost 2.2% in premarket trade after Barclays downgraded the stock to “equal weight” from “overweight,” pointing to continued volatility for the China-based sportswear and footwear maker , as well as eroding demand in North America and elsewhere.

Western Digital ( WDC ) — Shares of the disk drive maker fell 1.7% in premarket after Deutsche Bank downgraded it to “hold” from “buy.” Deutsche Bank said the company’s profit and revenue appear to be at the low end of guidance due to deteriorating demand.

Norwegian Cruise Line ( NCLH ) – Norwegian rose 3% in premarket after Truist Financial upgraded the stock to “buy” from “hold,” pointing to a decline in cancellations and rebookings at lower prices.

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