Five Below, Novavax, Nio Fall Premarket; Tesla, Signet Rise

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Five Below, Novavax, Nio Fall Premarket; Tesla, Signet Rise

By Peter Nurse -- Stocks in focus in premarket trade on Thursday, June 9th. Please refresh for updates.

  • Five Below (NASDAQ: FIVE ) stock fell 8% after the discount retailer reported weak first quarter sales and cut its full-year guidance, citing higher operating costs.

  • Tesla (NASDAQ: TSLA ) stock rose 3.1% after UBS upgraded its investment stance on the electric car manufacturer to ‘buy’ from ‘hold’, saying the recent drop of over 30% creates an attractive entry point for a high growth business.

  • Novavax (NASDAQ: NVAX ) stock fell 5.7%, handing back Wednesday’s gains on the news that the Food and Drug Administration’s authorization of the drugmaker’s COVID shots could be delayed to review changes in the manufacturing process.

  • Alibaba (NYSE: BABA ) ADRs fell 4.5% after China's securities regulator said it had not conducted any assessment regarding a revival of affiliate Ant Group's initial public offering.

  • Take-Two (NASDAQ: TTWO ) stock rose 2.7% after J.P. Morgan initiated coverage of the video game company at ‘overweight’, saying the stock looks cheap and could rally 33%.

  • Target (NYSE: TGT ) stock rose 0.8% after the big-box retailer raised its quarterly dividend by 20% despite warning of weaker margins as it reduced inventories earlier this week.

  • Nio (NYSE: NIO ) ADRs fell 5.8% after the Chinese electric-vehicle maker posted a wider loss in the first quarter than during the same period a year ago, hurt by the recent COVID-related shutdowns.

  • Signet Jewelers (NYSE: SIG ) soared 8.5% after the retailer posted healthy quarterly profit and revenue, issued an upbeat full-year forecast, and expanded its share repurchase authorization by $500 million.

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