Check out the companies that make headlines:

 

Johnson & Johnson rose nearly 4% in premarket Friday following the announcement of plans to spin off its consumer health care business from its pharmaceutical and medical operations.

 

Rivian Automotive - Shares of the newly opened electric vehicle maker continued to rally in Friday preliminary trading, after surging more than 22% in Thursday's session. This follows its market debut on Wednesday when the stock rallied 29%. The company, backed by Amazon and Ford, has already surpassed Ford and General Motors in market capitalization, reaching a valuation of $ 104.9 billion.

 

Lordstown Motors - Shares in the auto startup fell 10% in preliminary trading on Friday after the company reported another quarter without earnings. Lordstown said it plans to manufacture and deliver its Endurance truck in the third quarter of 2022. According to Refinitiv, the company's last quarter loss per share was less than expected. BTIG also downgraded Lordstown Motors to Neutral from Buy.

 

WM Technology - Software company WM Technology fell 13% in preliminary trading on Friday after its quarterly results fell short of expectations. WM Technology's fourth-quarter outlook was also below expectations.

 

Nvidia - Shares in the chipmaker dropped slightly in Friday's preliminary bid after Wedbush downgraded Nvidia to Neutral from Optimistic on a valuation basis. It is difficult for a Wedbush analyst to argue that Nvidia is trading 55x the company's 2024 performance.

 

Hewlett Packard Enterprise - Hewlett Packard Enterprise declined in preliminary trading on Friday after Goldman Sachs downgraded the stock to Sell from Neutral, citing easing IT spending in late 2021 and early 2022. The Wall Street firm lowered its price target to $ 14 per share from $ 16 per share.

 

Blink Charging - Shares in the electric vehicle charging company rose 5% in preliminary trading on Friday as investors were encouraged by strong third-quarter earnings. According to Refinitiv, the company generated revenues of $ 6.4 million, well above analysts' expectations of $ 4.7 million.

 

Caesars Entertainment - Casino shares rose in pre-market trading on Friday after B Riley Securities initiated a buy-rated Caesars Entertainment coverage with a $ 191 price target.

 

Warby Parker - Shares in the eyewear company fell in preliminary trading on Friday after the company reported higher-than-expected losses as direct listing costs offset a 32% rise in sales. Warby's net loss for the three-month period ended September 30 increased to $ 91.1 million, or $ 1.45 per share, from a loss of $ 41.6 million, or 78 cents per share, a year earlier.