Didi Global, Tesla, Apple, Spirit Airlines Rise Premarket; Under Armour Falls By Investing.com

By Peter Nurse

Investing.com — Stocks in focus in premarket trade on Monday, June 6th. Please refresh for updates.

• Didi Global (NYSE:) ADRs soared over 60% after The Wall Street Journal reported that Chinese regulators are set to end an investigation into the ride-hailing giant after nearly a year, allowing the company to add new users.

• Alibaba (NYSE:), Baidu (NASDAQ:), and JD.com (NASDAQ:) stocks all advanced between 4% and 6% as investors also cheered the major Chinese cities steadily returning to normal life after the country’s biggest COVID-19 outbreak in two years.

• Starbucks (NASDAQ:) stock rose 2% after the coffee chain stated that Howard Schultz would remain its interim chief executive officer until the end of the first quarter next year, as it looks for a permanent successor.

• Tesla (NASDAQ:) stock rose 2.9% after CEO Elon Musk backtracked from an email late last week which indicated that job cuts of 10% were needed, saying over the weekend that the electric vehicle maker’s total headcount will increase over the next 12 months, but the number of salaried staff should be little changed.

• Apple (NASDAQ:) stock rose 1.4% with the tech giant holding its annual software developer conference Monday, with investors looking for any hints about the viability of a future mixed-reality headset.

• Spirit Airlines (NYSE:) stock rose 5.7% after rival JetBlue Airways (NASDAQ:), up 1.3%, submitted an improved proposal to acquire the low-cost carrier.

• Advanced Micro Devices (NASDAQ:) stock rose 1.8% after the chipmaker entered a partnership with Nio (NYSE:), up 5.2%, to supply chips to the Chinese electric vehicle maker.

• Keurig Dr Pepper (NASDAQ:) stock rose 8.1% after the soft drinks company was added to the , replacing sports equipment company Under Armour (NYSE:), down 0.8%.

• Spotify (NYSE:) stock rose 4.7% after Raymond James upgraded its stance on the music streaming service to ‘outperform’ from ‘market perform’, saying it’s in much better shape than Netflix (NASDAQ:).

• Crowdstrike (NASDAQ:) stock rose 3.4% after Morgan Stanley upgraded the cybersecurity company to ‘overweight’ from ‘equal weight’, saying the company offers value in an uncertain macro environment.

• Walt Disney (NYSE:) stock rose 0.9%, benefiting from more customers at its entertainment parks even as Deutsche Bank cuts its price target to $130 from $191, citing concerns over the streaming video industry.