Tesla, BioNTech, Berkshire Hathaway rise premarket; Dish Network fall
Investing.com -- U.S. futures edged higher Monday, as investors awaited the release of more quarterly corporate earnings as the new week starts with a positive tone.
Here are some of the biggest premarket U.S. stock movers today:
Tesla (NASDAQ: TSLA) stock rose 1.9% after Reuters reported that the electric vehicle manufacturer plans to build a €25,000 (€1 = $1.0753) car at its factory near Berlin, in an attempt to enter the mass market.
BioNTech (NASDAQ: BNTX) stock rose 3.1% after the drugmaker cut its 2023 revenue target on lower demand for the COVID-19 vaccine made with Pfizer (NYSE: PFE), but said the impact from write-downs at its U.S. partner was less than initially thought.
Berkshire Hathaway (NYSE: BRKa) stock rose 0.4% after Warren Buffet’s holding company reported a record high cash pile of $157 billion in the third quarter, in a sign that the group is cautiously gauging stock valuations and the broader market environment during a time of high borrowing costs and political strife.
Dish Network (NASDAQ: DISH) stock fell 6.2% after the satellite television company reported a drop in third-quarter revenue, swinging to a loss for its fiscal third quarter as its pay-TV subscribers declined.
Starbucks (NASDAQ: SBUX) stock rose 0.5% after the coffee chain announced plans to raise the hourly pay for its U.S. retail workers by at least 3% from 2024, as it plans to expand its store count amid strong demand for its coffees from younger and more affluent customer base.
Ryanair (NASDAQ: RYAAY) ADRs rose 9.2% after the low-cost carrier delivered a record annual profit forecast and outlined plans for its first-ever ordinary dividend.
OrganiGram (TSX:OGI) stock soared 40% after the Canadian cannabis company said it is set to receive a hefty investment from British American Tobacco (NYSE: BTI).