NVDA, LEVI, EVGO and more

The companies making headlines before the bell include Wolfspeed, Nvidia, Hims & Hers Health, EVgo, Levi Strauss, Constellation Brands, and Stellantis. Here is a breakdown of the news: Wolfspeed: The semiconductor stock fell nearly 5% after Mizuho downgraded it to underperform from neutral, citing lower EV production expectations and pricing for silicon carbide. Nvidia: Shares rose more than 1% after CEO Jensen Huang said the company is seeing "insane" demand for its next-generation AI graphics processor, Blackwell, and is on schedule to ship in the fourth quarter. Hims & Hers Health: The telehealth company declined around 9% after the FDA said the shortage of GLP-1 treatments from Eli Lilly has been resolved, making Hims & Her Health's compound versions of the weight-loss drugs less valuable.

EVgo: Shares advanced more than 9% after JPMorgan upgraded the electric vehicle charging company to overweight, citing its utilization rate compared to peers and owner-operator model. Levi Strauss: The denim maker plunged 12% after trimming its full-year revenue guidance and delivering fiscal third-quarter revenue that missed analysts' expectations. The company is also considering a sale of its underperforming Dockers business. Constellation Brands: The beverage company rose slightly after beating earnings expectations and reiterating its full-year earnings per share guidance. Stellantis: The automaker was down more than 3% in the premarket after Barclays downgraded it to equal weight from overweight, citing its US inventory issue and eroding EU/US market shares.

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