Stocks making the biggest moves in the premarket: Alphabet, Tesla, Gores Guggenheim and more – CNBC

Posted: September 27, 2021 at 5:14 pm

Take a look at some of the biggest movers in the premarket:

Alphabet (GOOGL) Alphabet's Google unit will cut the commissions it collects on third-party software sales in its Cloud Marketplace. That's according to a person familiar with the matter who spoke to CNBC, who said Google will now collect just 3% of sales compared to the prior 20%.

Tesla (TSLA) Tesla rolled out a software update that allows customers to request access to its Full Self-Driving beta software. Access will be granted to Tesla drivers who get a sufficiently high safety score.

Gores Guggenheim (GGPI) The special purpose acquisition company will take electric car maker Polestar public through a merger, at a valuation of $20 billion including debt. Polestar is controlled by car maker Volvo and its parent Zhejiang Geely Holding Group. Gores rose 2.4% in premarket trading.

Acceleron Pharma (XLRN) Acceleron is in talks to be acquired by an unidentified large pharmaceutical company for about $180 per share, according to people familiar with the matter who spoke to Bloomberg. Bristol-Myers Squibb (BMY) is considered one potential candidate, as it already owns an 11.5% stake in Acceleron.

Box (BOX) Box was upgraded to "market outperform" from "market perform" at JMP Securities, which cited the cloud computing company's execution among other factors. Box added 2.2% in the premarket.

Altice USA (ATUS) The broadband and video company was downgraded to "neutral" from "outperform" at Credit Suisse, which notes the likely short-term negative impact from an aggressive fiber buildout strategy. Altice USA slid 1.8% in premarket action.

Toyota Motor (TM) The automaker's shares rose 1.3% in the premarket after the company said it had completed a 25.8 million share buyback.

Best Buy (BBY) The electronics retailer was named a "top idea" at Piper Sandler, which is enthusiastic about the upcoming rollout of Best Buy's new "Best Buy Total Tech" membership program.

Gannett (GCI) The USA Today publisher said it was seeking to refinance up to $550 million in senior secured debt. Gannett said its plan was subject to market conditions and that there is no assurance it will be able to execute the refinancing.

Read more here:

Stocks making the biggest moves in the premarket: Alphabet, Tesla, Gores Guggenheim and more - CNBC

Related Posts