Tolu is a cryptocurrency and blockchain enthusiast based in Lagos. He likes to demystify crypto stories to the bare basics so that anyone anywhere can understand without too much background knowledge. When he's not neck-deep in crypto stories, Tolu enjoys music, loves to sing and is an avid movie lover.
Here are some of the popular names across different sectors, that have stocks with the largest premarket price movements at the moment.
Several stocks sometimes perform interestingly, not only during regular trading, but also in pre-market trading. Today, the stocks currently performing impressively come from a wide range of sectors, from the automobile industry to pharmaceuticals, and from groceries to social media. Unsurprisingly, most of these companies are well-known in their respective industries. Here are seven of the biggest pre-market stocks. They include the following ones.
Tesla (NASDAQ: TSLA)
The Elon Musk-led electric car company rose 1% in premarket trading. However, the company is facing legal trouble over alleged unethical conduct. A San Francisco federal court ruling is ordering Tesla to pay Owen Diaz, a former employee, about $137 million. The jury awarded more money than attorneys requested after finding the automaker guilty. The plaintiff served the lawsuit over Tesla fostering a hostile environment and racist remarks toward Diaz while he worked there.
PepsiCo (NASDAQ: PEP)
The American multinational food and beverage corporation reported quarterly earnings of $1.79 per share. This beat analysts’ estimates by 6 cents a share, as well as Wall Street forecasts. In addition, PepsiCo increased its annual revenue forecast following the easing of pandemic restrictions. The company can now expect to boost sales at restaurants and movie theaters returning to business. PepsiCo stock rose 1% in premarket trading.
Facebook (NASDAQ: FB)
After incurring a 5% dip on Monday, the social media giant managed to stage a modest rebound, rising 1% in premarket trading. The decline on Monday was the result of two incidents. Firstly, there was a six-hour mass outage that also affected WhatsApp and Instagram. Secondly, a ’60 minutes’ interview saw a whistleblower accused the company of ‘betraying democracy.’
Albertsons (NYSE: ACI)
Shares of the grocery company dropped 4% in the premarket following BMO Capital’s downgrade of the stock to the ‘underperform’ category. BMO’s reasons for changing the performance status of Albertsons were two-fold. It noted increasing wage costs and correspondingly a more price-sensitive consumer environment.
Southwest Airlines (NYSE: LUV)
Southwest Airlines Co, currently serving as one of the major airlines of the US, recently announced a Covid vaccine mandate for employees. Staff have a December 8th deadline to comply but may also apply for religious or medical exemptions.
Johnson & Johnson (NYSE: JNJ)
The pharmaceutical giant recently submitted an application to the Food and Drug Administration (FDA) for the emergency authorization of a COVID vaccine booster shot. The FDA already plans to conduct an expert panel review of booster data for both Johnson & Johnson, and Moderna. The J&J and Moderna (NASDAQ: MRNA) review should take place next week.
Duckhorn Portfolio (NYSE: NAPA)
Duckhorn Portfolio reported a quarterly profit of 8 cents per share. This figure was higher than the 1 cent a share estimate given by analysts. In addition, the West Coast winemaker’s revenue also surpassed Wall Street’s projections. Furthermore, Duckhorn Portfolio reported a more impressive full-year earnings outlook as well. Its shares rose 2.2% in the premarket.