Disney, Fisker and Ulta Beauty rise premarket; Pfizer and Tesla fall

Investing.com — U.S. traded in a mixed fashion Friday, starting a new month in a muted fashion ahead of a speech from Fed Chair Jerome Powell.

Here are some of the biggest premarket U.S. stock movers today:

• Walt Disney (NYSE:) stock rose 0.4% after the entertainment giant announced plans to reinstate its dividend with a 30-cent per share payout for the second half of its fiscal year, signaling a recovery phase after the pandemic-induced hiatus.

• Tesla (NASDAQ:) stock fell 2.2% after the electric-vehicle maker started deliveries of its Cybertruck electric pickup on Thursday, with a starting price of $60,990, above its original forecast.

• Alibaba (NYSE:) ADRs fell 1.7% after Morgan Stanley downgraded the e-commerce giant to ‘equal weight’ from ‘overweight’, citing slower turnaround in customer management revenue.

• Pfizer (NYSE:) stock fell 3.4% after the drugs giant scrapped its plan to advance a twice-daily version of its oral weight-loss drug into late-stage studies.

• Fisker (NYSE:) stock rose 5.7% after the electric-vehicle maker said it will scale down production this month, and produce fewer cars this year than its previous guidance, to prioritize cash for working capital needs.

• Marvell (NASDAQ:) stock fell 4.8% after the chipmaker’s fourth-quarter revenue forecast fell short of expectations, while also reporting declining third-quarter revenue.

• Ulta Beauty (NASDAQ:) stock soared 11% after the cosmetics retailer raised the lower end of its annual net sales forecast and named Paula Oyibo its new chief financial officer.

• UiPath (NYSE:) stock jumped 14% after the automation software firm beat third-quarter revenue estimates, amid strength in the licenses and subscription-services businesses.