Shares of Teva Pharmaceutical (NYSE:TEVA) are seeing significant pre-market strength after Piper Sandler upgraded its rating on the pharmaceutical company to Overweight from Neutral.

Retailer Urban Outfitters (NASDAQ:URBN) may also move to the upside after UBS upgraded its rating on the company’s stock to Neutral from Sell.

On the other hand, shares of Big Lot (NYSE:BIG) are plunging in pre-market trading after Loop Capital downgraded its rating on the discount retailer to Sell from Hold.

Electric vehicle maker Rivian Automotive (NASDAQ:RIVN) may also come under pressure after Barclays downgraded its rating on the company’s stock to Equal Weight from Overweight.