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Tesla, Alibaba, Abercrombie & Fitch rise premarket; Lululemon falls

Stock Markets Jan 09, 2023 08:04AM ET
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By Peter Nurse

Investing.com -- Stocks in focus in premarket trade on Monday, January 9th. Please refresh for updates.

  • Tesla (NASDAQ:TSLA) stock rose 3.5% after the electric car manufacturer signaled longer waiting times for potential buyers of some versions of the Model Y in China, suggesting increased demand after recently announced price cuts.

  • CinCor Pharma (NASDAQ:CINC) stock rose 133% after AstraZeneca (NASDAQ:AZN) agreed to acquire the U.S. biotech in a deal worth as much as $1.8 billion, as the Anglo-Swedish drugmaker looks to expand its pipeline of treatments for heart and kidney disorders.

  • Alibaba (NYSE:BABA) ADRs rose 4.9% on news that Ant Group's founder Jack Ma will give up control of the Chinese fintech giant in an overhaul, potentially easing government scrutiny.

  • Visa (NYSE:V) stock rose 1.2% and Mastercard (NYSE:MA) stock climbed 1.7% after KeyBanc upgraded its stance on the credit card giants, both to ‘overweight’ from ‘sector weight’, expecting them to outperform again in 2023.

  • Goldman Sachs (NYSE:GS) stock rose 0.3% after Bloomberg reported the investment bank was preparing its biggest round of job cuts since 2009 after over-hiring during the pandemic.

  • Moderna (NASDAQ:MRNA) stock rose 0.4% after the drugmaker stated it generated about $18.4B in COVID-19 vaccine sales in 2022.
  • Abercrombie & Fitch (NYSE:ANF) stock rose 4.3% after the clothing retailer raised its forecast for holiday-quarter sales, citing strong demand across its brands during the peak holiday selling period.
  • Lululemon Athletica (NASDAQ:LULU) stock fell 10% after the retailer said it expects holiday quarter gross margins to decline as it grapples with increased costs amid a drop in consumer spending.
  • Uber Technologies (NYSE:UBER) stock rose 2.8% after Piper Sandler upgraded its stance on the ride hailing firm to 'overweight' from 'neutral', saying rising car prices will boost demand for ride hailing.
Tesla, Alibaba, Abercrombie & Fitch rise premarket; Lululemon falls
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Comments (3)
Jan 09, 2023 8:33AM ET
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Block User
Tesla is heading to zero
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Jay Ow
Jay Ow Jan 09, 2023 8:24AM ET
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Another you do not welcome people with mRNA poison what shooting ORF gen
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Jay Ow
Jay Ow Jan 09, 2023 8:19AM ET
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Do not try to feed yourself on Alibaba USA. Hi dear investors, crypto etc.., I ask you one simple question, do you go shopping where they shut your mouth without solving complaints and block you from talking, or do you go where they welcome you with open arms? I'm sure you know, who am I talking about - companies. Have a great day. Great success.
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Luke Knoep
Luke Knoep Jan 09, 2023 8:19AM ET
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No i actually have no idea who you are talking about
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Jay Ow
Jay Ow Jan 09, 2023 8:19AM ET
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Luke Knoep  Of course, you have.
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