Railway stocks, Arconic, NextEra Energy and others

Check out the companies that make headlines before the call:

Union Pacific (UNP), CSX (CSX), Norfolk Southern (NSC) – Rail shares rose in premarket trading after news of a tentative agreement preventing a rail strike. Shares of CSX, which also named former Ford Motor (F) President Joe Hinrichs as its new CEO, rose 4.1% in premarket trading, while Union Pacific added 3.95% and Norfolk Southern added 1.5%.

Arconic (ARNC) – Shares of Arconic fell 9.8% in premarket trading after the aluminum maker cut its full-year guidance due to various production costs and higher energy costs in Europe.

NextEra Energy (NEE) — NextEra Energy plans to sell $2 billion worth of shares, with the alternative energy company planning to add the proceeds to the general funds of its subsidiary NextEra Energy Capital Holdings. Shares fell 3.5% in premarket trading.

Danaher (DHR) – Danaher shares rose 4.2% in premarket trading after the medical technology company announced plans to spin off its environmental and applied sciences division into a separate company. The deal is expected to close in the fourth quarter of 2023.

AIG (AIG) — CoreBridge’s life insurance division raised $1.68 billion in its largest initial public offering in 2022. During the IPO, 80 million CoreBridge shares were sold at $21 per share, which is the lower end of the $21 to $24 projected range. . AIG added 1.75 in premarket.

Nordstrom (JWN) – The department store operator jumped 2.6% in premarket trading after Jeffreys upgraded its rating to Buy from Hold. The firm said that younger and wealthier consumers will be investing in a major wardrobe upgrade, and Nordstrom is the best positioned to capitalize on this trend.

Wynn Resorts (WYNN), a casino and resort operator, has been upgraded to Superior from Neutral by Credit Suisse, calling Wynn one of the most compelling stories in the gaming industry. Wynn rose 2.5% in premarket trading.

Netflix (NFLX) – Shares of the streaming service rose 2.5% in premarket after Evercore ISI update to “outperform” versus “in line”. Evercore based its opinion on Netflix’s revenue opportunities from its planned level of ad support and restrictions on password sharing.