Stocks making the biggest moves premarket: AMC, DPZ, TSLA
An AMC Theatre on March 29, 2023 in New York City. AMC Entertainment shares jumped as much as 13%, following a report that Amazon was looking to buy the theater chain.
Check out the companies making headlines in morning trading.
AMC Entertainment — Shares popped 37% after a judge on Friday denied a proposed settlement related to AMC Entertainment's plan to convert preferred shares into common stock. The company said it has filed a revised stock plan. Preferred shares lost about 2% before the bell.
Domino's Pizza — The stock lost nearly 4% in premarket trading after Domino's reported mixed quarterly results. The company reported earnings of $3.08 a share on $1.02 billion in revenue. Analysts surveyed by Refinitiv had looked for EPS of $3.05 on revenues of $1.07 billion.
Mattel — The toymaker gained 1.5% after the movie based on one of its doll, Barbie, posted strong opening weekend box office numbers. Warner Bros. Discovery, the parent of the studio that made the film, rose 0.9%.
Tesla — The electric vehicle stock lost more than 1% after UBS downgraded shares to an underweight rating, saying that the recent uptick fully accounts for the demand boost prompted by recent price cuts.
American Express — The financial services stock lost nearly 2% before the bell after Piper Sandler downgraded shares to underweight and trimmed its price target. The firm cited concerns over the company hitting its revenue and profit growth targets.
UPS — Shares lost more than 1% before the bell as roughly 340,000 employees prepare to go on strike nationwide.
Shopify — The e-commerce stock popped 2.5% after MoffettNathanson upgraded shares to an outperform rating, saying that Shopify's enterprise business is approaching an inflection point.
Chevron — Shares jumped 0.5% after Chevron announced long-time company veteran Eimear Bonner would become the next chief financial officer next year. The company reported preliminary second-quarter earnings results Sunday evening. Chevron posted adjusted earnings of $3.08 a share, which topped analysts' estimates.
— CNBC's Alex Harring and Hakyung Kim contributed reporting
Source: CNBC
