Take a look at the companies generating buzz ahead of the market open.
Tesla – The electric vehicle manufacturer witnessed a 1% increase, building on previous gains, as it announced its intention to revamp the Model Y vehicle. According to a report from Bloomberg News, Tesla is set to initiate the model’s refresh starting in the middle of next year at its Shanghai plant.
Tencent, Netease – Chinese internet stocks saw respective gains of 1.9% and 2.5% after China’s top gaming regulatory body reassured that it would make further modifications and enhancements to their new guidelines aimed at curbing excessive gaming.
New York Times Company – Continuing yesterday’s upward trend, shares of the media company rose by 1.3%. The company recently filed a lawsuit against Microsoft and ChatGPT-maker DeepAI.
Coherus BioSciences – Following a strong surge of over 23% during Wednesday’s trading session, this biopharmaceutical stock slipped by 2.6%. The boost in Coherus shares was driven by the approval of Udenyca Onbody, an on-body injection system designed to help chemotherapy patients prevent infections, by the U.S. Food and Drug Administration.
Iovance Biotherapeutics – After a period of decline, shares of this biotech company rebounded by 3.3% in early morning trading on Thursday.
JD.com – The shares of this Chinese e-commerce company rose by over 3% in premarket trading in the U.S. following a report by Bloomberg News that highlighted the company’s plans for pay raises for its front-line staff.
Source (CNBC)
