Stocks Making Major Premarket Moves: Alibaba, AstraZeneca, eBay and More
Several stocks saw significant premarket movements on a range of factors affecting their valuations. AstraZeneca dropped over 4% while Bristol Myers Squibb surged more than 5%, following reports that the two pharmaceutical firms were in merger talks. Meanwhile, ArcelorMittal rose nearly 2% after announcing an expanded technology partnership with Microsoft, which also saw a slight gain. Alibaba gained almost 4% as it unveiled its new AI model Qwen3.8-Max ahead of its official release next week. Ferguson Enterprises climbed close to 8%, set to join the S&P 500 index on Wednesday after replacing Electronic Arts. In contrast, eBay fell over 3% following a downgrade from Wells Fargo due to concerns about earnings and marketing costs post-Depop acquisition. Memory stocks like SanDisk and Micron Technology declined more than 3%, while Circle Internet Group dropped nearly 5% as Morgan Stanley downgraded it citing headwinds for its stablecoin USDC.
Tickers: $AZN $BABA $BMY $EBAY $FERG $MSFT $MT $MU $SNDK $STX
Topics: AI model launch pharmaceutical merger talks S&P 500 inclusion stock downgrade technology partnership