Check out the companies making headlines before the bell: U.S. Steel — U.S. Steel shares slid nearly 8% after President Joe Biden blocked Japanese company Nippon Steel’s $14.9 billion takeover of U.S. Steel, saying “U.S. Steel will remain a proud American company.” Biden said the domestic steel industry is a national security priority. Block — Shares of the fintech company moved nearly 3% higher after Raymond James upgraded the stock to outperform from market perform, saying Block is trading at an attractive valuation even after its recent run. According to the firm, Block’s seller gross payment volumes will be a catalyst for the stock’s 2025 acceleration story. Carvana — The online used-car seller saw shares fall more than 2% after short selling firm Hindenburg Research on Thursday alleged that Carvana’s recent turnaround is a “mirage” supported with unstable loans and accounting manipulation. Chewy — The pet-focused e-commerce stock popped more than 2% following Wolfe Research’s upgrade to outperform from peer perform. Wolfe also named Chewy a top pick among internet stocks. The firm cited expectations for earnings upside, a better macro backdrop and product catalysts as reasons for optimism. Las Vegas Sands — The stock rose more than 3% after receiving an upgrade to buy from hold at Jefferies. The firm said “improving macro conditions” in Macao will strengthen this consumer, leading to incremental growth in the near term. Constellation Energy — Shares edged nearly 2% higher, extending its gains from Thursday when Constellation announced more than $1 billion in contracts to supply the U.S. government with nuclear power over the next decade. — CNBC’s Alex Harring and Sean Conlon contributed reporting.
