Trending tickers: Tesla, Aston Martin, CVS, Alibaba

In This Article:

Tesla (TSLA)

Tesla stock was higher in premarket on Monday, having gained almost 2.5% in Friday's session. The moves come ahead of the electric vehicle maker's third-quarter delivery figures, slated for Wednesday.

In its first quarter, the Elon Musk-founded company delivered 387,00 cars, missing some of the lowest Wall Street estimates by about 10%. In the second quarter it improved on those numbers, hitting 444,000 in deliveries.

Tesla stock has been rallying in anticipation of the fresh data — up around 22% in the past month alone. Wall Street analysts expect deliveries to hit around 460,000.

Aston Martin Lagonda (AML.L)

Fast carmaker Aston Martin saw its stock fall as much as 28% on Monday after its CEO said it would make 1,000 fewer cars than planned. It also warned on profits.

The move wiped more than £370m off its market cap.

New CEO Adrian Hallmark said supply chain problems and weak demand in China were partly to blame for the shaky start, and expectation of fewer deliveries.

Meanwhile, Stellantis — the owner of Vauxhall — also slashed its profit margin forecast, outlining plans to slow production.

The updates are symptoms of a slowing car market which is becoming increasingly competitive.

CVS (CVS)

Healthcare giant CVS's stock was higher in premarket on Monday, having jumped more than 4% on Friday as investors watch for operational changes at the company.

Hedge fund Glenview Capital Management will meet executives at CVS to discuss ways to improve the company on Monday, according to a Wall Street Journal report.

The report noted Larry Robbins, the fund's founder, has built a large position — amounting to about $700m — in CVS.

The company said it "maintains a regular dialogue with the investment community as part of our robust shareholder and analyst engagement program".

Shares were around 1.7% higher in premarket following the report.

Alibaba (BABA)

E-commerce giant Alibaba got a boost on Monday, buoyed by fresh stimulus announcements from the People's Bank of China.

Chinese stocks received a shot in the arm after the central bank said on Sunday it would direct banks to cut rates on existing mortgages by the end of next month. Last week, it also cut some of its rates in an effort to boost its economy amid growth fears. Alongside this, several major cities eased home buying restrictions.

Baba stock closed more than 2.1% higher on Friday, and was 4.3% higher in premarket trade on Monday.

Last Monday, Alibaba's stock was around $90 per share — it's currently standing at around $107 per share.