A Tesla electric vehicle is plugged into a charging terminal at the Healthy Living Market store in South Burlington, Vermont, on June 18, 2023.
Robert Nickelsberg | Getty Images
Check out the companies making the biggest moves in pre-market trading.
tesla — Shares fell 1.9% after Goldman Sachs became the latest to downgrade the electric car maker to “neutral” from “buy.” Goldman Sachs cited the tough pricing environment for electric vehicles and the stock’s recent gains during the call.
modern — The drugmaker rose 2.5% after UBS upgraded its rating to buy from neutral. The stock’s current valuation does not reflect potential upside from other vaccines, the bank said. UBS lowered its target price from $221 to $191, still up 61% from Friday’s close.
wide awake — Shares rose 12% after the electric carmaker announced a partnership with Aston Martin to supply powertrain and battery systems to the British luxury automaker. Aston Martin will grant Lucid a 3.7 percent stake in the company and pay a total of $232 million in cash.
letter — Shares of Google parent fell 1.4 percent after UBS downgraded it to neutral from buy. The tech giant faces near-term revenue headwinds from new search competition and stronger competition to generate artificial intelligence, the bank said.
Pfizer — Shares down 2.4% after hours drugmaker announced it is stop clinical development its experimental obesity and diabetes drug lotiglipron. The study showed elevated liver enzymes, but none of the participants reported any symptoms or side effects.
PacWest – The regional bank’s shares rose nearly 6% after the announcement Ares Management Acquires $3.5 Billion Professional Finance Portfolio From the Pacific West. The portfolio includes high quality, senior secured, asset-backed loans.
carnival — Shares rose 1.9 percent, beating pre-market earnings expectations for the company. Cruise stocks have been soaring as the industry rebounds from the Covid-19 pandemic.