Check out the companies making headlines before the bell. Gap — The clothing retail stock jumped 4.7% after JPMorgan upgraded shares to overweight. The firm cited a strong start to the holiday shopping season and a multi-year growth outlook. Stellantis – Shares sank 9% after CEO Carlos Tavares stepped down from his role at the automaker, effective immediately. The company cited “different views” between Tavares and the board of directors as the reason for the departure. Tesla — Shares of the electric vehicle maker gained 2.2% after Tesla’s vice president of AI software tweeted on Saturday night that version 13 of Tesla’s “Full Self-Driving” driver-assistance software has started rolling out to some customers. Intel — The chipmaking stock rallied 6% after announcing that CEO Pat Gelsinger has retired . The company named David Zinsner and Michelle Johnston Holthaus as interim co-CEOs. Steel producers — Shares of Cleveland-Cliffs rose more than 1% after Goldman Sachs analyst Mike Harris initiated coverage on the company with a buy rating, saying both cyclical and structural factors — including President-elect Donald Trump’s trade policies — could drive earnings growth for the U.S. steel industry. Goldman also initiated Commercial Metals Company as a buy, though shares of that company were flat premarket. Hasbro — The toy and game company’s stock ticked up 1.7% as investors monitored the sales results around Black Friday. Stifel said in a note to clients that Hasbro’s performance was “mixed” but that board games did seem to be a popular category. — CNBC’s Samantha Subin, Jesse Pound, Hakyung Kim nnd Sarah Min contributed reporting.
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