Tesla, DocuSign and Adobe rise premarket; Coinbase falls
- S&P 500, Nasdaq notch biggest weekly losses since March
- S&P 500 could end the year over 10% higher from here - Piper Sandler
- Citi says Meta shares to rally in near term on share gains, upcoming AI event
- Ads are coming to Amazon Prime Video next year; Stock pops
- 'Sell the last rate hike' strategy is in action, stocks could fall further - BofA's Hartnett
Investing.com -- Stocks in focus in premarket trade on Friday, June 9th. Please refresh for updates.
Coinbase (NASDAQ: COIN) stock fell 1.3% after credit rating agency Moody’s downgraded its outlook of the cryptocurrency exchange to "negative" from "stable," after U.S. regulators unveiled a lawsuit earlier this week alleging that the platform had broken U.S. law by failing to register as an exchange.
Tesla (NASDAQ: TSLA) stock rose 5.8% after General Motors (NYSE: GM), up 4.4%, said it would adopt Tesla's North American charging plug standard, and as a result, GM's electric vehicle buyers would have access to the Tesla Supercharger network.
DocuSign (NASDAQ: DOCU) stock rose 5% after the company that provides electronic signature technology reported strong first-quarter results, bolstered by an increase in billings.
Adobe (NASDAQ: ADBE) stock rose 3.8% after Wells Fargo upgraded their rating of the software company to ‘overweight’ from ‘equal weight’, expecting generative artificial intelligence to be a "tailwind" for the business.
Target (NYSE: TGT) stock fell 1.4% after Citigroup downgraded its stance on the retail giant to ‘neutral’ from ‘buy’, saying sales have peaked, after strong growth from 2020 to 2022, and are likely to fall further.
Nio (NYSE: NIO) ADRs fell 1.2% after the Chinese EV maker reported a sharp contraction in gross margins in the first quarter to 5.1% year-on-year in Q1 versus 18.1% in the same period a year back.
Fisker (NYSE: FSR) stock rose 1.8% after the luxury EV manufacturer detailed in a production update plans to scale up, setting up in China, adding it is on track to meet targets.
You May Also Be Interested In
- Activision Blizzard, Roku, Wayfair and Citi rise premarket; Ford falls
- This October could become another 'bear killer' - Stock Traders Almanac
- Tesla (TSLA) submits plans for potential battery storage facility in India
Create E-mail Alert Related CategoriesHot List, Investing, Special Reports
Related EntitiesCiti, Tesla, Wells Fargo
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!