The pre-market stock movers saw a variety of companies making headlines. Spotify saw a 7.4% increase after reporting a surge in premium subscribers, while Palantir’s shares jumped over 20% after beating revenue expectations. In the pharmaceutical industry, Eli Lilly experienced a 4% rise in shares after surpassing analysts’ estimates for the fourth quarter. Meanwhile, Tesla’s stock dropped 2.3% after being downgraded by Daiwa, and UBS shares fell 4.1% due to a second consecutive quarterly loss. Despite this, JPMorgan remains optimistic about UBS’s future in wealth management.
BP experienced a 5% increase in stock price after increasing its dividend and ramping up the pace of buybacks, despite a decline in annual profit. NXP Semiconductors also saw an increase in shares, gaining 3% after reporting stronger-than-expected fourth-quarter results. Li Auto, a Chinese EV maker, jumped 8.6% after being upgraded by Deutsche Bank, while Chegg tumbled 7.5% after reporting disappointing guidance for the first quarter. The chipmaker Rambus continued its declines, shedding 9.9%, while Coherent’s shares jumped 13% after posting better-than-expected quarterly results. Lastly, UPS saw a more than 1% increase in shares after being upgraded by UBS to buy from neutral, based on the belief that the company can cut costs and grow margins despite potential weak revenue growth.