Pre-Market Movers: Tesla Pops, Lucid Group Dips, Nvidia and AMD Rise

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Pre-Market Movers: Tesla Pops, Lucid Group Dips, Nvidia and AMD Rise
Credit: © Reuters.

By Daniel Shvartsman -- Stocks in focus in pre-market trade on Tuesday, December 28th. Prices as of 8:30am ET, please refresh to see updated pricing.

  • Tesla (NASDAQ: TSLA ) traded up 1.8% after getting a price target hike from both Wedbush and Argus gave the electric vehicle leader another charge. Wedbush's Daniel Ives argues the EV sector is set for a significant step forward and Tesla's navigation of the semiconductor supply chain issues puts it in a position of strength. It's not all sunshine for EV related companies, with Lucid Group Inc (NASDAQ: LCID )down 1.2% pre-market.
  • Nvidia (NASDAQ: NVDA ) and AMD appear poised to lead semiconductors higher again, as they are trading up 1.4% and 1.2% respectively in the pre-market session.
  • Apple (NASDAQ: AAPL ) is also up .2% in pre-market trading despite continued Covid-related store closures. The tech leader is just off of both all-time highs and the shiny $3 Trillion market cap barrier.
  • Albemarle Corp (NYSE: ALB ) is up nearly 2% and MercadoLibre Inc (NASDAQ: MELI ) is up 1.5%.
  • Peloton Interactive Inc (NASDAQ: PTON ) is on watch after a Raymond James analyst called this fiscal year's guidance aggressive even after the most recent quarter's drop. Aaron Kessler said there was "continued softness in the December quarter", and rates Peloton a Market Perform.
  • F5 Networks Inc (NASDAQ: FFIV ) is up 1% in thin trading after Needham & Company called it their best idea in networking for 2022, raising the price target to $303 from $266 (and the current share price of $245). Alex Henderson lauded the company's software transition and said it was "becoming a Cloud/Kubernetes play" that would merit a higher multiple.
  • BiondVax Pharmaceuticals Ltd ADR (NASDAQ: BVXV ) is poised to rebound from yesterday's share offering induced sell-off, as it is up 38% in busy pre-market trading.
  • Mercury Systems Inc (NASDAQ: MRCY ) looks set to open higher after announcing the adoption of a "poison pill" shareholder rights plan in response to activist Jana Partners' 6.6% stake in the business.
  • Vipshop Holdings Limited (NYSE: VIPS ) was down 2.2% after cutting its guidance for the current quarter.
  • Kiniksa Pharmaceuticals Ltd (NASDAQ: KNSA ) is down 16% pre-market after its Phase 3 trial of mavrilimumab as a treatment for Covid-19 related acute respiratory syndrome did not meet the primary efficacy endpoint.

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