Stocks making the biggest moves in the premarket: Twitter, Tesla, Starbucks and more
Take a look at some of the biggest movers in the premarket:
Twitter (TWTR) – Twitter shares soared 26.1% in the premarket after a Securities and Exchange Commission filing showed that Tesla CEO Elon Musk had taken a 9.2% passive stake in Twitter.
Tesla (TSLA) – Tesla delivered just over 310,000 vehicles during the first quarter, a record for the electric vehicle maker but below Wall Street consensus estimates. Tesla gained 1% in premarket trading.
Starbucks (SBUX) – Starbucks has suspended its share repurchase program, in a move it says will allow it to invest in future growth for the coffee chain. The move comes as Howard Schultz returns for a third stint as CEO, replacing the retiring Kevin Johnson. Starbucks fell 2.3% in premarket action
JPMorgan Chase (JPM) – In his annual letter to shareholders, CEO Jamie Dimon said the bank could face a potential loss of $1 billion from its exposure to Russian investments.
JD.com (JD), Netease (NTES), Alibaba (BABA), Tencent Music (TME) – U.S.-listed China stocks are rallying in premarket trading after China proposed revising confidentiality rules regarding audit oversight. That could remove an obstacle to U.S.-China cooperation and prevent those companies from being delisted in the U.S. JD.com jumped 5.1%, Netease rose 3.9%, Alibaba gained 4.3% and Tencent Music added 5.2%.
Hertz (HTZ) – The car rental company announced a new partnership that will see Hertz buy up to 65,000 electric vehicles from electric vehicle maker Polestar over the next five years. Hertz gained 2.3% in the premarket.
Novartis (NVS) – Novartis announced a reorganization of its business units in a move the Swiss drugmaker could save at least $1 billion annually by 2024. The new structure will integrate the
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