Stocks making the biggest moves premarket: Tesla, AMC, Southwest and others
Check out the companies making headlines before the bell:
Tesla (TSLA) – Tesla gained 1.6% in the premarket in a volatile session, following a seven-day losing streak and declines in ten of the past eleven sessions. Baird reduced its price target on Tesla to $252 per share from $316, but continues to rate the stock outperform.
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AMC Entertainment (AMC) – AMC Entertainment rose 1.2% in premarket trading after CEO Adam Aron asked the movie theater chain’s board to freeze his salary. He also urged other top AMC executives to do the same.
Southwest Airlines (LUV) – Southwest Airlines fell 1.3% in premarket action as it continues to cancel flights in its struggle to return to a normal schedule. Southwest has canceled thousands of flights over the past week, following a severe winter storm, and is limiting bookings over the next few days.
Nvidia (NVDA), Micron Technology (MU) – These and other semiconductor stocks remain on watch as investors focus on an oversupply of chips. That is in sharp contrast to the global shortage during the pandemic, when demand was surging.
Apple (AAPL) – Apple is marginally higher in the premarket following its Tuesday close, which was the lowest since June 2021. Apple fell during the past three days and in eight of the past nine trading sessions.
Lyft (LYFT) – The ride-hailing company’s stock remains on watch after closing lower than $10 per share for the first time since going public in 2019. It rebounded by 1.1% in premarket trading.
Generac (GNRC) – The power equipment maker’s stock was rated buy in new coverage at Janney Montgomery Scott with a price target of $160, implying a 76% upside from current levels. Generac is the worst performer in the S&P 500 for 2022 with a 74.1% decline.