Take a look at the companies making headlines before the bell: Constellation Energy – Energy stock rose 2% after an upgrade to neutral at Bank of America. Analyst Ross Fowler said the company is best positioned to benefit from the coming regulatory clarity, coupled with rising demand and tighter supply. This potential is not currently reflected in the company's share price, leaving the shares undervalued, he added. Celsius Holdings – Shares of the energy drink maker rose nearly 4% after JPMorgan overweighted the company, citing lighter stocks and a renewed acceleration in U.S. energy drink growth as catalysts. Uber – Shares of the ride-sharing company rose more than 3%, recovering from losses earlier this week. The stock has fallen three days in a row, including a 5.8% drop on Wednesday after General Motors cut off financing for Cruise. The autonomous driving division had a partnership with Uber. Beverage Companies – Deutsche Bank analyst Steve Powers upgraded Coca-Cola, PepsiCo and Keurig Dr Pepper to buy from neutral. Each of the stocks rose about 1% in premarket trading. The analyst expects an accelerating trend in restaurant traffic and more impulse purchases next year, which he thinks should benefit the beverage and snacks industry. Adobe – The software giant tumbled 11% after issuing weaker-than-expected revenue guidance for its first fiscal quarter. Adobe expects revenue between $5.63 billion and $5.68 billion, versus the LSEG consensus estimate of $5.73 billion. Oxford Industries – Shares of the clothing and footwear retailer fell about 4% after third-quarter results fell short of expectations. The owner of retail brands such as Tommy Bahama reported an adjusted loss of 11 cents per share on revenue of $308 million for the period. Analysts polled by FactSet expected the company to post earnings of 9 cents per share on revenue of $316.8 million. Chewy – Shares of the pet supplies retailer fell about 3% in premarket trading after it announced a public offering of $500 million in stock sold by Buddy Chester Sub. The retailer plans to buy $50 million worth of Buddy Chester stock at the same time. Warner Bros. Discovery – Shares of the media and entertainment company rose 6% after it announced plans to split its cable TV business from its faster-growing streaming and studio businesses. – CNBC's Lisa Kailai Han, Jesse Pound, Yun Li and Michelle Fox contributed reporting.
