Take a look at some of the biggest movers in the premarket:

Wynn Resorts (WYNN) – Investor Tilman Fertitta has taken a 6.1% stake in the resort operator, according to a Securities and Exchange Commission filing. Wynn shares rallied 4.2% in premarket action.

Petrobras (PBR) – The Brazilian state-run oil company's shares slid 8.5% in premarket trading after Luiz Inácio Lula da Silva defeated Jair Bolsonaro in the Brazilian presidential election.

Hanesbrands (HBI) – The apparel maker received a double-downgrade at Wells Fargo Securities, which cut the stock';s rating to "underweight" from "overweight." Wells Fargo is concerned about the company';s debt position, as well as business headwinds that it feels are largely out of management';s control. Hanesbrands slid 3.8% in the premarket.

Paramount Global (PARA) – The media company's stock was downgraded to "underweight" from "equal weight" at Wells Fargo Securities, which had downgraded the stock to "equal weight" only a few weeks ago. Wells Fargo said the original downgrade came amid concerns about cord-cutting and the rising cost of sports rights, and that the situation has worsened since then. Paramount Global fell 3.7% in premarket action.

Emerson Electric (EMR) – The industrial conglomerate is selling a majority stake in its climate technologies business to private-equity firm Blackstone (BX). The transaction would value the unit at $14 billion, including assumed debt. Emerson gained 1.3% in the premarket while Blackstone was unchanged. Separately, Emerson reported better-than-expected quarterly profit and revenue.

Caterpillar (CAT) – The heavy equipment maker's shares lost 1.2% in the premarket after UBS downgraded the stock to "neutral" from "buy." UBS said the downgrade reflects a more balanced risk/reward profile, but is still upbeat on Caterpillar's prospects over the longer term.

Keurig Dr Pepper (KDP) – The beverage maker's stock fell 1.8% in premarket trading after Truist Securities downgraded it to "sell" from "neutral." Truist believes the company';s coffee business will prove to be a drag on sales and profit growth through 2023.

XPO Logistics (XPO) – The logistics firm reported quarterly profit of $1.45 per share, beating estimates by 10 cents a share. Revenue also topped analysts' forecasts, helped by revenue improvement in XPO's less-than-truckload business.