The stock market is always abuzz with activity, and premarket trading is no exception. This is the time when investors can get a jump on the day's action by buying or selling stocks before the market opens.
There are a number of factors that can influence premarket trading, including economic data, company news, and analyst reports. Investors should always do their own research before making any investment decisions, but here is a look at some of the stocks that are moving in premarket today:
Upstart Holdings (UPST)
Upstart Holdings is a fintech company that uses artificial intelligence to provide loans to consumers. The company's stock is up more than 40% in premarket trading after it reported strong earnings for the first quarter of 2023. Upstart's revenue grew by 157% year-over-year, and its net income more than doubled. The company also raised its guidance for the full year.
Tesla is an electric vehicle maker that is known for its innovative products and its outspoken CEO, Elon Musk. The company's stock is up more than 2% in premarket trading after it was announced that Tesla will be added to the S&P 500 index on June 1. This is a major milestone for Tesla, and it is likely to boost the company's stock price in the coming months.
Palantir Technologies (PLTR)
Palantir Technologies is a data analytics company that provides software to governments and businesses. The company's stock is up more than 1% in premarket trading after it was announced that Palantir will be awarded a $3.5 billion contract to provide software to the U.S. Army. This is a major win for Palantir, and it is likely to generate significant revenue for the company in the coming years.
Syneos Health (SYNH)
Syneos Health is a clinical research organization that provides services to pharmaceutical companies. The company's stock is up more than 8% in premarket trading after it announced that it will be acquired by Thermo Fisher Scientific for $10.2 billion. This is a major deal for both companies, and it is likely to create a global leader in the clinical research industry.
These are just a few of the stocks that are moving in premarket today. Investors should always do their own research before making any investment decisions, but these stocks could be worth watching as the market opens.
Here are some additional factors that could influence the stock market today:
The Federal Reserve is expected to release minutes from its latest meeting later today. These minutes could provide clues about the central bank's plans for future interest rate hikes.
Investors will also be watching economic data, including the release of the latest jobs report. This report could provide an update on the state of the economy and could influence the direction of the stock market.
Finally, investors will be watching corporate earnings reports. A number of major companies are scheduled to report earnings today, including Tesla, Meta Platforms, and Netflix. These earnings reports could have a big impact on the stock market.
Overall, the stock market is expected to be volatile today. Investors should be prepared for any surprises.