Check out the companies making the biggest moves in premarket trading: Ferrari — The luxury carmaker tumbled nearly 14% after it trimmed its electrification targets . Ferrari said it expects its 2030 sports car model line-up to be made up of 40% internal combustion engine cars, 40% hybrid and 20% fully electric vehicles. That’s down from its prior target of 40% EV sales by the end of the decade. Delta Air Lines — Shares rose 6% after the company issued strong guidance and posted third-quarter results that beat analyst expectations. The airline earned an adjusted $1.71 per share on revenue of $15.2 billion. Analysts expected by LSEG expected a profit of $1.53 per share on revenue of $15.06 billion. Akero Therapeutics — The biopharma company rallied nearly 18% after it announced it would be acquired by Novo Nordisk for $54 per share, or $4.7 billion, in cash. Akero makes drugs aimed at treating metabolic dysfunction-associated steatohepatitis, or MASH. Its efruxifermin drug, EFX, is in phase 3 trials. Novo Nordisk shares fell more than 1%. PepsiCo — The snacks and beverage giant climbed about 1% after reporting third-quarter results that beat analyst expectations. The company earned an adjusted $2.29 per share on revenue of $23.94 billion. Analysts expected a profit of $2.26 per share on revenue of $23.83 billion, according to LSEG. Tractor Supply — Citi upgraded the farm equipment and services company to buy from neutral, noting the recent pullback in the stock is an attractive entry point. Shares moved 1.6% higher. Oklo — Shares gained nearly 3% after Canaccord Genuity initiated coverage of the nuclear technology company with a Buy rating. The firm anticipates strong long-term demand for nuclear energy, with Oklo emerging as a leader. Freeport-McMoRan , Southern Copper — The copper miners added 2.9% and 2.6%, respectively, after the price of copper futures hit their highest level since July. MP Materials — Shares of the rare earth materials producer rose 4.7%. BMO Capital Markets reinstated coverage at a market perform rating, calling MP the U.S.’ “rare earth champion” following a partnership with the Department of Defense. Meanwhile, China said it tightened rare earth export controls ahead of a potential meeting between President Donald Trump and Chinese leader Xi Jinping. Azz — The stock dropped 7.4% after the provider of hot-dip galvanizing and coil coating solutions posted fiscal second-quarter earnings and revenue that missed expectations. Azz said it saw weaker demand in several end markets. Teva Pharmaceutical Industries — The generic drug manufacturer rose 3% following a Wall Street Journal report that U.S. President Donald Trump’s administration plans to exempt generic medicines from its proposed tariffs on a range of products and ingredients. —CNBC’s Fred Imbert, Alex Harring, Sarah Min and Liz Napolitano contribute reporting (Learn the best 2026 strategies from inside the NYSE with Josh Brown and others at CNBC PRO Live. Tickets and info here .)
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