Take a look at some of the most significant pre-market changes:
Twitter (TWTR) - Twitter dropped in pre-market trading after Elon Musk announced Friday night that he was pulling out of his $44 billion takeover deal. In response, Twitter said it was planning legal action to force Musk to honor the agreed deal.
Wynn Resorts (WYNN), Las Vegas Sands (LVS) - Wynn Resorts is down 6% and Las Vegas Sands is down 5.4% in premarket as the gambling enclave of Macau begins a week-long shutdown to try to contain the spread of Covid-19.
Lululemon (LULU), Under Armor (UAA) - Lululemon fell 3.9% in premarket trading, while Under Armor shed 3% after Jefferies downgraded both clothing manufacturers. Lululemon was downgraded to Unpromising from Hold, with Jefferies noting increased competition and an easing surge in COVID-related demand. Under Armor was downgraded to Hold from Buy due to concerns about management volatility and lagging fundamentals.
Uber Technologies (UBER) - According to a report by the International Consortium for Investigative Journalism, Uber has actively lobbied to loosen labor and tax laws, and has used so-called "stealth technology" to block government inspections and gain public confidence. Uber has issued a statement saying it has made mistakes in the past and is a different company today. Uber shares lost 2.6% in the pre-market.
China technology stocks
These shares fell after the Chinese government fined Alibaba (BABA), Tencent and other Chinese tech companies for failing to comply with antitrust rules and fail to disclose transactions. Alibaba lost 3.9% in the pre-market, JD.com (JD) shed 3.4%, Pinduoduo (PDD) shed 4.4% and Baidu (BIDU) shed 3%.
Mattel (MAT) - Mattel has been upgraded to Buy from Neutral at Goldman Sachs, which believes the toymaker will benefit from demand from new TV and movie releases. In the pre-market, Mattel shares rose 2.9%.
Nio (NIO) - A Chinese electric vehicle maker said its board of directors has formed an independent committee to investigate allegations made by short-selling firm Grizzly Research. Grizzly accused Nio of exaggerating earnings and profit margins, to which Nio responded that the allegations were unfounded. In the pre-market, Nio lost 3.2%.
Qorvo (QRVO) - The RF technology provider's rating has been downgraded to "market performance" from "optimistic" by Cowen, who believes the weakness in the Android market will impact revenues and profit margins. Qorvo lost 2.9% in the pre-market.
Tencent wants to develop an AI-enabled product like ChatGPT
Chinese EV start-up Zeekr achieves higher valuation than Xpeng
Dollar rises as economic clouds thicken
The yen rises on reports that the Japanese government has decided on a more flexible inflation target
Sterling rises amid weakening of the dollar
Gold sees weekly decline amid hawkish Fed signals
Toncoin Telegram (TON) rose by 17% due to the failure of competitor WhatsApp
Bank of America beat forecasts thanks to higher interest rates in higher interest rates than expected in bond trading
Oil is growing up to $ 90, since OPEC+ considers the possibility of reducing production
Sterling rises against the dollar amid lower inflation in the UK
Bitcoin fell below $20,000 to its lowest level since mid-July as investors dump risky assets
Stocks making the most pre-market moves: Lowe's, Target, TJX and more
Yen targets biggest weekly gain in 4 months at peak U.S. rates
Gold continues to fall amid strengthening dollar, the focus of the views of central banks
European stocks decline as inflation unnerves markets
Oil recoups early losses and becomes positive, despite fears of recession
Gold falls amid approaching Fed rate decision