Tesla CEO Elon Musk speaks during the official opening of Tesla’s new electric car manufacturing plant on March 22, 2022 near Gruenheide, Germany.
Christian Marquardt Getty Images
Check out the companies making headlines in pre-market trading on Wednesday.
Tesla, Twitter – The electric vehicle maker fell 1.5% after CEO Elon Musk reversed course on his Twitter purchase, once again proposing to take over the social media company for 54 .20 dollars per share. He had previously tried to back out of buying the company, but was sued by Twitter to go ahead with the purchase. Shares of Twitter fell slightly after rallying on the news on Tuesday.
Automakers: Ford rose 1.5% after Morgan Stanley upgraded the stock to overweight from equal weight, citing a potential buying opportunity following the stock’s recent decline. General Motors, meanwhile, fell 1.8% after the company cut its price target on the stock.
Morgan Stanley, Goldman Sachs – Shares of the two banks fell 1.4% and 1.6%, respectively, after Atlantic Equities downgraded both stocks due to potential declines in investment banking volume.
Airbnb: The online travel platform rose 0.8nclh%, outperforming the broader market, after Bernstein initiated coverage on the stock with an outperform rating and a price target that implies an upside of about 30 % compared to Tuesday’s close.
Cruise Lines: Major cruise lines edged lower after rising in trading on Tuesday, when Norwegian Cruise Line said it would drop its Covid-19 testing, masking and vaccination requirements. Shares fell 2% on Wednesday, while Carnival and Royal Caribbean lost 2.3% and 1.9%, respectively.
Bionano Genomics: Shares rose 11.3% after the company published a study on using optical genome mapping to investigate liver cancer.
