Stocks making the biggest moves premarket: Exxon Mobil, Tribune Publishing, Apple, Tesla & more

Finance

Check out the companies making headlines before the bell:

Exxon Mobil – The energy giant will write down the value of its assets by up to $20 billion for the fourth quarter, mostly related to its natural gas assets. Exxon is, however, seeing a benefit this quarter from higher oil prices and improved margins in its chemicals business. Shares were fractionally lower around 7:45 a.m. ET.

Enphase Energy – The Australia-based energy technology company’s stock will replace Tiffany in the S&P 500, effective January 7. Tiffany is being bought by France’s LVMH, with Tiffany shareholders having approved the deal Wednesday. Enphase stock was up 1% around 7:45 a.m. ET.

Apple – Apple removed 39,000 games from its China app store, amid a crackdown on unlicensed games by the Chinese government. Including those games, a total of more than 46,000 apps were removed. Shares had gained half of 1% as of 7:45 a.m. ET.

Tribune Publishing – Alden Global Capital offered to buy the portion of Tribune that it doesn’t already own for $14.25 per share, compared to Wednesday’s close of $12.79.  Alden is already Tribune’s largest shareholder with a 32% stake. Tribune shares were up nearly 9% around 7:45 a.m. ET to trade at $13.92.

Tesla – Tesla is higher in premarket trading, after rising for five straight sessions and hitting an all-time high during Wednesday’s trading. Tesla shares have gained about 730% this year, going into the year’s final trading day. The company’s stock was up more than 1% around 7:45 a.m. ET.

New York City REIT – The real estate investment trust has offered to buy up to 65,000 shares of the company’s class B common stock for $7 per share. That follows a buyout offer from MacKenzie Capital Management at $6.50 per share for company, which invests in New York City-based commercial real estate. The stock had shed 7% as of 7:50 a.m. ET.

Celsius Holdings – The fitness drink company’s shares surged almost 13% in premarket trading on news that the stock will join the S&P SmallCap 600 on January 7. Cosmetics retailer e.l.f. Beauty will also join the SmallCap 600 on the same day.

Red Lion Hotels – Sonesta International Hotels offered to take Red Lion private for $3.50 per share, or $90 million. That compares to Red Lion’s Wednesday close of $2.70 per share. Red Lion shares gained 27% as of 7:50 a.m. ET to trade at $3.45.

MicroStrategy – The business analytics company rose nearly 3% in premarket trading, following yesterday’s 6.5% gain. MicroStrategy shares have surged in recent weeks, as bitcoin surges in value. MicroStrategy recently bought $650 million in bitcoin and has made more than $1 billion in bitcoin purchases this year.

Baidu – The China-based search engine company is seeing its stock rise once again in premarket trading, following three straight days of gains capped by a 12.6% gain during Wednesday trading. Baidu had been among the China-based stocks that fell last Thursday on news of an antitrust crackdown on large companies by the Chinese government. The shares were up more than 3% at around 7:50 a.m. ET.

Products You May Like

Articles You May Like

Why Vanilla Is So Expensive | So Expensive
The Rio Olympics were only a year ago, but the venues look like they’ve been deserted for decades
Cathie Wood sees these 2 trends as the next big things after electric vehicles
This new batch of $1,400 stimulus checks includes payments to veterans
BlackRock’s Larry Fink says institutional clients fascinated by crypto but not that interested

Leave a Reply

Your email address will not be published. Required fields are marked *