Twitter, Tesla, Hertz Rise Premarket; JPMorgan, Starbucks Fall By

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By Peter Nurse — Stocks in focus in premarket trade on Monday, April 4th. Please refresh for updates.

  • Twitter (NYSE:) stock soared 20% after a regulatory filing showed that Tesla boss Elon Musk has taken a 9.2% stake in the , worth almost $3 billion, making him the largest outside shareholder not long after he was critical of the social media platform and its policies.

  • JPMorgan Chase (NYSE:) stock fell 0.6% after CEO Jamie Dimon acknowledged a possible loss of up to $1 billion on its Russia exposure in the long term.

  • Tesla (NASDAQ:) stock rose 0.8% after the electric car manufacturer delivered just over 310,000 vehicles during the first quarter, a new record.

  • Starbucks (NASDAQ:) stock fell 2.7% after the coffee chain’s former boss Howard Schultz announced the suspension of the company’s stock repurchasing program, as he returns to the CEO role.

  • Alibaba (NYSE:) ADRs rose 4.2%, Baidu (NASDAQ:) ADRs rose 4.5% and Pinduoduo (NASDAQ:) ADRs rose 8.7% after Chinese regulators said at the weekend they will lift the ban on providing full audit information to foreign regulators, likely removing the threat of a forced U.S. delisting.

  • Logitech (NASDAQ:) stock rose 5% after Goldman Sachs upgraded its stance on the tech company to ‘buy’ from ‘neutral’, saying it should benefit as video conferencing becomes even more common.

  • Hertz (NYSE:) stock rose 2.4% after the Wall Street Journal reported that the car rental giant has agreed a five-year deal to buy 65,000 vehicles from Polestar to expand its electric cars lineup.

  • Novartis (NYSE:) ADRs rose 0.7% after the Swiss drugmaker unveiled a new simplified business structure, targeting savings of at least $1 billion by 2024.

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