Check out the companies making headlines in premarket trading. Ford — Shares of the automaker slipped 2.3% after the United Auto Workers union expanded its strike to target Ford's SUV and pickup truck facility in Kentucky, which is the company's largest facility measured by both revenue and workforce. Target — The retailer rose 2.8% after Bank of America upgraded Target to buy from neutral.
The firm thinks the backlog of sleep apnea devices has been addressed and ResMed's revenue is likely to decline between 2024 and 2026. ResMed also faces short-term fears over the impact of GLP-1 drugs, although RBC thinks they will only have a modest impact on ResMed's business. Plug Power — The battery stock added 1.2% after JPMorgan added the company to its positive catalyst watchlist, and highlighted potential near-term upside.