Didi Global, Tesla, Apple, Spirit Airlines Rise Premarket; Under Armour Falls
2022.06.06 15:20
By Peter Nurse
Investing.com — Stocks in focus in premarket trade on Monday, June 6th. Please refresh for updates.
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Didi Global (NYSE:DIDI) ADRs soared over 60% after The Wall Street Journal reported that Chinese regulators are set to end an investigation into the ride-hailing giant after nearly a year, allowing the company to add new users.
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Alibaba (NYSE:BABA), Baidu (NASDAQ:BIDU), and JD.com (NASDAQ:JD) stocks all advanced between 4% and 6% as investors also cheered the major Chinese cities steadily returning to normal life after the country’s biggest COVID-19 outbreak in two years.
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Starbucks (NASDAQ:SBUX) stock rose 2% after the coffee chain stated that Howard Schultz would remain its interim chief executive officer until the end of the first quarter next year, as it looks for a permanent successor.
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Tesla (NASDAQ:TSLA) stock rose 2.9% after CEO Elon Musk backtracked from an email late last week which indicated that job cuts of 10% were needed, saying over the weekend that the electric vehicle maker’s total headcount will increase over the next 12 months, but the number of salaried staff should be little changed.
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Apple (NASDAQ:AAPL) stock rose 1.4% with the tech giant holding its annual software developer conference Monday, with investors looking for any hints about the viability of a future mixed-reality headset.
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Spirit Airlines (NYSE:SAVE) stock rose 5.7% after rival JetBlue Airways (NASDAQ:JBLU), up 1.3%, submitted an improved proposal to acquire the low-cost carrier.
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Advanced Micro Devices (NASDAQ:AMD) stock rose 1.8% after the chipmaker entered a partnership with Nio (NYSE:NIO), up 5.2%, to supply chips to the Chinese electric vehicle maker.
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Keurig Dr Pepper (NASDAQ:KDP) stock rose 8.1% after the soft drinks company was added to the S&P 500 index, replacing sports equipment company Under Armour (NYSE:UA), down 0.8%.
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Spotify (NYSE:SPOT) stock rose 4.7% after Raymond James upgraded its stance on the music streaming service to ‘outperform’ from ‘market perform’, saying it’s in much better shape than Netflix (NASDAQ:NFLX).
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Crowdstrike (NASDAQ:CRWD) stock rose 3.4% after Morgan Stanley upgraded the cybersecurity company to ‘overweight’ from ‘equal weight’, saying the company offers value in an uncertain macro environment.
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Walt Disney (NYSE:DIS) stock rose 0.9%, benefiting from more customers at its entertainment parks even as Deutsche Bank cuts its price target to $130 from $191, citing concerns over the streaming video industry.
