Look at the firms that are trending in premarket trading:
– Tesla: Shares surged more than 10% in premarket trading following the news that local Chinese authorities had lifted restrictions on the electric vehicle company’s cars. This development raised expectations for the availability of Tesla’s Full Self-Driving software in China.
– Paramount: The entertainment company’s stock climbed over 5% in premarket trading amid reports that its board is considering removing CEO Bob Bakish. Paramount is set to report earnings after the market closes on Monday.
– Domino’s Pizza: Shares of the pizza chain rose more than 5% after reporting better-than-expected first-quarter earnings. Domino’s earnings per share of $3.58 exceeded analyst estimates of $3.39, with year-over-year growth in U.S. same-store sales.
– Southwest Airlines: The airline stock slipped 1.2% after Jefferies downgraded it to underperform from hold. Analyst Sheila Kahyaoglu expressed disappointment over the company missing its lowered guidance for first-quarter revenue per available seat mile (RASM).
– Apple: Shares of the tech giant increased by more than 2% after Bernstein upgraded the stock to outperform from market perform. Analyst Toni Sacconaghi suggested that concerns over recent weaknesses in China may be overstated, signaling a buying opportunity for investors.
– Lululemon: Shares of the athletic apparel retailer declined by 1.6% after being downgraded by Barclays to equal weight from overweight. The firm attributed the downgrade to shifting consumer spending patterns and increased competition in the retail sector.
– SoFi: The consumer fintech company saw its shares rise over 2% after reporting first-quarter earnings of 2 cents per share on revenue of $581 million, surpassing analysts’ estimates of 1 cent per share on revenues of $556 million.
Source (CNBC)
