Levi Strauss, Costco, ChargePoint, Mattel and more

Levi Strauss & Company labels are seen on jeans at a Woodbury Common Premium Outlets store in Central Valley, New York, US, on February 15, 2022.

Andrew Kelly | reuters

Check out the companies making headlines in premarket trading.

sirius xm – The media company’s shares fell nearly 2% in premarket trading. A day earlier, Liberty Media had proposed merging Sirius XM tracking stock with the radio company. A special committee composed of Sirius XM board members is currently considering the proposal.

Levi Strauss – The apparel maker gained 1.3% in premarket trading after TD Cowen initiated coverage of the stock at an outperform rating. TD Cowen said Levi’s is in the “early innings of a favorable denim cycle.”

costco — Shares of the club retailer fell more than 1% despite Costco’s fiscal fourth-quarter report being better than expected. The company earned $78.9 earnings per share on revenue of $4.86 billion. Analysts surveyed by LSEG were looking for $4.79 a share on revenue of $77.9 billion. However, comparable sales in the US rose only 0.2%.

chargepoint — Electric vehicle charging stocks rose more than 4% after UBS initiated coverage of ChargePoint with a buy rating, saying recent stock performance creates an attractive risk-reward.

xpo – The trucking company climbed nearly 2% after Evercore upgraded ISI to outperform. Analyst Jonathan Chappell forecasts greater margin expansion and pricing power for the company.

clear meaning, Rivian —- Shares of electric vehicle makers rose 2.1% and 2%, respectively. Both stocks rose a day earlier as the United Auto Workers strike deepened and received support from President Joe Biden, who joined the strike in Michigan.

metal – Shares of the toy maker rose 2.4% in premarket trading Wednesday after Morgan Stanley upgraded Mattel to an overweight rating, calling it a top pick. The firm said Mattel offers some of the best risk-adjusted returns despite the tough macroeconomic environment.

— CNBC’s Alex Haring, Jesse Pound, Samantha Subin and Piya Singh contributed reporting

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