Check out the companies making the biggest moves in pre-market trading: Ferrari — The luxury car maker fell nearly 14% after lowering its electrification target. Ferrari said it expects its 2030 sports car model lineup to be 40% internal combustion engine, 40% hybrid and 20% fully electric. This was below the previous goal of increasing EV sales by 40% by the end of 2010. Delta Air Lines — Shares rose another 6% after the airline issued strong guidance and reported third-quarter results that beat analysts’ expectations. The company had revenue of $15.2 billion and adjusted earnings per share of $1.71. Analyst estimates compiled by LSEG were for sales of $15.06 billion and earnings per share of $1.53. Akello Therapeutics — The biopharmaceutical company rose nearly 18% after announcing it would be acquired by Novo Nordisk for $54 per share, or $4.7 billion in cash. Akello manufactures a drug aimed at treating steatohepatitis associated with metabolic dysfunction (MASH). The company’s efluxifermine drug EFX is in Phase 3 trials. Novo Nordisk shares fell more than 1%. PepsiCo — The snack and beverage giant rose about 1% after reporting third-quarter results that beat analysts’ expectations. The company had adjusted earnings per share of $2.29 and revenue of $23.94 billion. Analysts had expected earnings of $2.26 per share on sales of $23.83 billion, according to LSEG. Tractor Supply — Citi has upgraded the farm equipment and services company from neutral to buyout, noting the recent decline in the stock price makes it an attractive entry point. The stock rose 1.6%. OKRO — The stock rose nearly 3% after Canaccord Genuity initiated coverage of a buy rating on the nuclear technology company. The company anticipates strong long-term demand for nuclear energy, with Okro emerging as a leader. Freeport-McMoRan, Southern Copper — Copper miners rose 2.9% and 2.6%, respectively, as copper futures prices hit their highest since July. MP Materials — Shares of the rare earth materials maker rose 4.7%. BMO Capital Markets, in partnership with the Department of Defense, named MP a U.S. “rare earth champion” and resumed coverage with its Market Perform Rating. Meanwhile, China announced it has tightened rare earth export controls ahead of a potential meeting between President Donald Trump and Chinese President Xi Jinping. Azz — Shares fell 7.4% after the hot-dip galvanizing and coil coating solutions provider reported lower-than-expected second-quarter earnings and sales. As said demand is weak in several end markets. Teva Pharmaceutical Industries — Generic drug maker Teva Pharmaceutical Industries rose 3% after the Wall Street Journal reported that President Donald Trump’s administration plans to exempt generic drugs from proposed tariffs on a variety of products and ingredients. —CNBC’s Fred Imbert, Alex Harring, Sarah Ming and Liz Napolitano contributed reporting (Learn the best strategies for 2026 from inside the New York Stock Exchange with Josh Brown and more on CNBC PRO Live. Tickets and information here ).
