Check out the companies making headlines before the bell:
China ADR: Shares of US-listed China-based companies rose in premarket after the Chinese government eased Covid restrictions. Among them: Alibaba ( BABA ) rose 1.5%, JD.com ( JD ) gained 2.2%, and Pinduoduo ( PDD ) rose 2.1%.
Southwest Airlines ( LUV ): Southwest fell 4.1% in premarket after thousands of flight cancellations over the holiday weekend, more than other major airlines have experienced amid storm issues wintry United Airlines ( UAL ), American Airlines ( AAL ), Delta ( DAL ) and JetBlue ( JBLU ) rose in premarket action.
Tesla (TSLA) – Tesla fell 5.3% in premarket trading, after falling for six consecutive trading days and nine of the last ten. Tesla is down about 65% year-to-date and is on pace for its biggest annual loss. The latest slide follows news that the automaker will produce at a reduced pace at its Shanghai factory in January, following a shutdown in late December.
Peloton (PTON): Peloton sells refurbished bikes at discounts of up to $500 compared to new bikes. The new program is Peloton’s latest effort to increase demand, following the expansion of its rental program earlier this year. Peloton rose 1% in premarket.
Nio (NIO) – Shares in the Chinese electric car maker fell 6.4% in premarket trading after it cut its fourth-quarter delivery forecast, saying the outbreak of Covid in major cities in China limited its supply chain.
Farfetch (FTCH): S&P Global Ratings assigned the luxury e-commerce platform operator a B rating with a negative outlook, pointing to the company’s significant negative cash flow. Farfetch rose 1% in premarket action.