Stocks making the biggest moves in the premarket: Uber, Nuance, Alibaba & more

Market Insider

Take a look at some of the biggest movers in the premarket:

Uber (UBER) – Uber announced record gross bookings for March, with its ride-hailing business improving 9% month-over-month for its best showing in a year. The company said in a filing that demand is recovering faster than driver availability as vaccines roll out across the country. Shares of the company rose 2.2% in premarket trading.

Nuance Communications (NUAN) – The speech-recognition company is in talks with Microsoft about an acquisition by the tech giant, a person familiar with the discussions told CNBC. A deal could be announced as early as Monday. Shares of Nuance surged 24% in premarket trading.

Alibaba (BABA)  – Chinese anti-trust regulators slapped the internet company with a $2.8 billion fine, and investors appear relieved that the company is not facing more serious regulatory issues. U.S.-traded shares of Alibaba rose more than 6% in the premarket.

Match Group (MTCH) – The dating app company received an upgrade to “buy” from “neutral” at BTIG, which said in a note that it was bullish on Match’s smaller brands like Hinger and Pairs. Shares of Match rose 1.4% in premarket trading. BTIG also initiated coverage of Bumble (BMBL) with a “buy” rating.

Tesla (TSLA)  – Canaccord Genuity upgraded the electric vehicle stock to “buy” from “hold.” The firm said in a note that it expects supply constraints around Tesla’s battery business to ease in 2022. The stock rose 1.3% in premarket action.

Chipotle Mexican Grill (CMG) – Shares of the restaurant chain have risen for seven straight sessions entering Monday and were up 0.5% in premarket trading. Raymond James upgraded the stock to “outperform” from “market perform,” citing improvements in the broader restaurant industry in recent weeks.

United Airlines (UAL) – The company said in a filing that it expects first-quarter revenue to come in at $3.2 billion, down 66% from the first quarter of 2019. Shares of United slipped about 0.9% in premarket trade.

 —CNBC’s Michael Bloom contributed to this story.

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