Check out the companies making headlines before the bell. Rivian Automotive — Shares of Rivian Automotive skyrocketed more than 40% after the electric vehicle company secured up to $5 billion in funding from Volkswagen Group. The initial investment totals $1 billion, with another $4 billion expected by 2026. A so-called short squeeze added fuel to the gain as about 19% of the Rivian shares available for trading were sold short before this news, according to FactSet. FedEx — FedEx shares popped 14% on strong fiscal fourth-quarter results . The shipping giant surpassed Wall Street’s estimates on the top and bottom lines and reported a 16% in capital spending from fiscal year 2023 as its cost-cutting measures take effect. Whirlpool — Whirlpool shares surged more than 18% following a Reuters report that Bosch is reportedly weighing an offer for the home appliance company. Southwest Airlines — Shares slumped 3% after the airline cut its second-quarter revenue outlook due to a shift in booking behavior. Southwest said it anticipates revenue per available seat mile to decline between 4% and 4.5% during the period from a year ago. The company previously expected a drop of 1.5% to 3.5%. General Mills — The consumer foods company dropped 4% before the bell on mixed quarterly results. General Mills topped earnings estimates for the recent quarter but posted revenues that fell short of Wall Street’s expectations. Nvidia — The chip stock added more than 2%, building on a nearly 7% rebound during Tuesday’s session. Nvidia posted a three-day losing streak before the bounce, culminating in a 7% decline on Monday as investors rotated out of the red-hot AI leader. Citi Research increased its Nvidia price target to $150 from $126 on Wednesday. Aptiv — The automotive technology stock dropped 7% after Piper Sandler downgraded Aptiv to underweight from neutral and cut its price target. The firm cited the announcement of a joint venture between Rivian and Volkswagen that suggests less reliance on intermediaries such as Aptiv for electrical architecture going forward. The new $63 price target suggests a 14% fall for Aptiv shares from Tuesday’s close. Campbell Soup — The processed food company added 1% following an upgrade to overweight at JPMorgan, the first time the bank has given the stock the rating since 2009. Analyst Ken Goldman cited “excellent demand” and high long-term
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