Companies such as Tesla, Paramount, Domino’s Pizza, Southwest Airlines, Apple, Lululemon, SoFi, and AMC Entertainment are making headlines in premarket trading.
Tesla’s shares surged more than 10% due to local Chinese authorities lifting restrictions on their cars, potentially making Tesla’s Full Self-Driving software available in China soon.
Paramount saw a 5% increase in shares amid reports of the board preparing to dismiss CEO Bob Bakish.
Domino’s Pizza stock rose over 5% after beating earnings expectations in the first quarter.
Southwest Airlines shares dropped 1.2% after being downgraded by Jefferies.
Apple’s shares rose 2% following an upgrade by Bernstein, despite concerns about weakness in China.
Lululemon shares fell 1.6% after a downgrade by Barclays citing consumer spending trends and competition.
SoFi saw a 2% increase in shares after exceeding analysts’ estimates in first-quarter earnings.
AMC Entertainment shares declined over 1% after preannouncing a first-quarter loss and expecting continued pressure on box office performance in the second quarter.
Contributors to this update include CNBC’s Sarah Min, Yun Li, Michelle Fox, Pia Singh, and Jesse Pound.
Several companies are making headlines in premarket trading. Tesla’s shares surged over 10% after Chinese authorities removed restrictions on its cars, potentially allowing its Full Self-Driving software in the country. Paramount saw a 5% increase in shares amidst reports of CEO Bob Bakish potentially being fired. Domino’s Pizza reported better-than-expected earnings, causing their shares to rise over 5%. Southwest Airlines’ stock dipped after a downgrade, while Apple’s shares rose after an upgrade due to concerns about weakness in China being overblown. Lululemon’s shares fell after a downgrade, and SoFi’s shares rose following strong first-quarter earnings. AMC Entertainment reported a first-quarter loss, causing their shares to slip. Overall, companies in various industries are experiencing significant movements in premarket trading.
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