Rivian, Tesla, Clorox, BlackBerry, Exxon, and More Stock Market Movers

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Stock futures fell Thursday giving up some gains from the previous session that saw the

S&P 500
post its best day in almost three weeks. The yield on the 10-year Treasury note was down to 4.72%.

These stocks were poised to make moves Thursday: 

Rivian Automotive

(RIVN) expects third-quarter sales of between $1.29 billion and $1.33 billion, in line with analysts’ estimates, and said it plans to offer $1.5 billion worth of convertible notes. The electric-truck maker said its estimated cash, cash equivalents and short-term investments at the end of the third quarter were $9.1 billion, “sufficient to enable us to fund our operations and capital expenditures through 2025.” The stock fell 9.1% in premarket trading.

EV leader

Tesla

(TSLA) was down slightly after closing with a gain of 5.9% on Wednesday. The stock has risen since

Tesla

earlier this week reported third-quarter deliveries that missed analysts’ consensus estimates.  

Clorox

(CLX) was falling 4% after cutting its fiscal first-quarter outlook following a cybersecurity attack.

Clorox

sees a loss of 35 cents to 75 cents a share; on an adjusted basis it expects between a break-even result to a loss of 40 cents a share. Clorox said it sees sales falling by 28% to 23% in the period from a year earlier. The company disclosed the cyberattack in mid-August.

BlackBerry

(BB) rose 3% after announcing it would split into two separate businesses, and planned to spin off its Internet-of-Things business in an initial public offering. The IPO would be targeted for the first half of the next fiscal year,

BlackBerry

said.

Exxon Mobil

(XOM) declined 1.3% after the energy giant said its third-quarter earnings would get a lift from rising crude oil prices. In a regulatory filing,

Exxon

said it expects a change in liquids prices to boost profit in the period by between $900 million and $1.3 billion. A change in gas prices would add between $200 million and $400 million. Thinner margins at its chemicals business would reduce profit by $400 million to $600 million.

Carrier Global

(CARR), a maker of HVAC products and other equipment, was downgraded to Underperform from Neutral at

BofA

and the price target was slashed to $55 from $62. The stock fell 3.2% to $52.89.

O’Reilly Automotive

(ORLY) rose 1% to $906.12 after shares of the auto parts retailer were upgraded to Buy from Neutral at

Citi

and the price target was raised to $1,040 from $983.

Costco Wholesale

(COST) said same-store sales in September rose 4.5% from a year earlier, accelerating from growth of 4.3% in August. E-commerce sales rose 3.7%. Higher gas prices helped drive Costco’s same-store sales up by about 0.5% this month, the retailer said. The stock was down 0.2%.

Earnings reports are

Constellation Brands

(STZ),

Lamb Weston

(LW),

Conagra Brands

(CAG), and

Levi Strauss

(LEVI).

Write to Joe Woelfel at joseph.woelfel@barrons.com