Stocks making the biggest moves premarket: Rivian, Clorox, Vestis, Chevron and more

Check out the companies making headlines in premarket trading.

Rivian — Shares of the electric vehicle maker plunged 8.7% after Rivian announced a $1.5 billion convertible bond sale and issued disappointing guidance for the third quarter. The company said it expects between $1.29 billion and $1.31 billion in revenue, while analysts polled by StreetAccount forecast $1.31 billion. Rivian also reported its cash and short-term investments lessened between the end of the second and third quarter.

STAY IN THE KNOW

	Watch NBC10 Boston news for free, 24/7, wherever you are.
	Get Boston local news, weather forecasts, lifestyle and entertainment stories to your inbox. Sign up for NBC Boston’s newsletters.

Energy stocks — Shares of oil firms Occidental Petroleum, Chevron and Exxon Mobil were all lower in premarket trading, as crude prices added to Wednesday's steep declines. Occidental ticked down 0.4%, while Chevron and Exxon Mobil both pulled back about 1%.

Clorox — Shares slipped 4.4% in premarket trading Thursday, a day after the product maker offered weaker guidance for the fiscal first quarter than analysts expected. The company also said a cyberattack outweighed benefits from pricing, cost saving and supply chain improvements. Raymond James downgraded the stock to market perform from outperform following the guidance.

Get top local stories in Boston delivered to you every morning. Sign up for NBC Boston's News Headlines newsletter.

UWM Holdings — Shares of the mortgage company rose 4.3% in premarket trading after a BTIG upgrade to buy from neutral. BTIG said the valuation for the parent company of United Wholesale Mortgage does not reflect the upside from a potential stabilization in interest rates.

Orchard Therapeutics — The gene therapy stock soared more than 98% on news that the company would be acquired by Japanese pharmaceutical Kyowa Kirin for $478 million.

Vestis — Shares of the uniform company added 2.4% after Redburn Atlantic initiated coverage of the company with a buy rating. Analyst Oliver Davies noted limited valuation downside and forecast 75% upside. Vestis completed a spin-off from Aramark on Monday.