Carvana (CVNA) – Carvana was downgraded to “sector perform” from “outperform” at RBC Capital Markets, with the price target for the online car seller’s stock cut to $138 per share from $155 per share. RBC bases its call both on valuation and potential difficulty in integrating its recent acquisition of car auction company Adesa. Carvana slid 3.4% in the premarket.
First Solar (FSLR) – The solar company’s stock fell 4.8% in premarket trading after Bank of America Securities downgraded it to “underperform” from “neutral.” BofA said investors may be overly optimistic about growth prospects and that a new Commerce Department anti-dumping inquiry into Asian module manufacturers is unlikely to drive pricing power.
Generac (GNRC) – The maker of backup generators and other energy-related equipment was put on the “Americas Buy List” at Goldman Sachs. Goldman points to a broad product portfolio, an increasing distribution footprint, and the idea that many of Generac’s products are in the early stages of adoption. Generac added 2.1% in premarket trading.
Carnival (CCL) – Carnival rallied 3.6% in the premarket after the cruise line operator said the seven-day period from March 28 through April 3 was the busiest week for new cruise bookings in the company’s history.
Twitter (TWTR) – Twitter was up another 1.5% in premarket action after soaring 27.1% Monday. That followed Tesla CEO Elon Musk’s disclosure that he had taken a 9.2% stake in the social media company.