Stocks Making the Biggest Premarket Moves: Tesla, Take-two Interactive, Bj's Wholesale, Boeing and More

‍Let's take a look at the notable movers in premarket trading:

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Tesla— The electric vehicle giant saw its shares rise by 3%, building on the momentum from after-hours trading on Friday. This surge followed an announcement by CEO Elon Musk that the company will reveal its highly anticipated robotaxi design on August 8th.

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Ulta— Shares of the cosmetics retailer edged up by 1.3% after receiving an upgrade to buy from Loop Capital. Analyst Anthony Chukumba suggested that the stock might be poised for a rebound following its significant decline last week, marking its worst performance since 2020.

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BJ’s Wholesale— The shares of the warehouse club retailer climbed by 2.4% following an upgrade by Goldman Sachs to buy from neutral. The bank expressed optimism about BJ’s earnings potential, citing factors such as the anticipated return of volume growth in the grocery segment.

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Boeing— Shares of the aerospace giant dipped approximately 1% in premarket trading. This decline came after the Federal Aviation Administration reported an incident involving a Southwest Airlines-operated 737-800, which had to return to Denver Airport due to an engine cowling detachment mid-flight, striking a wing flap.

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Taiwan Semiconductor Manufacturing— The chipmaker witnessed a 2% increase in its shares after its Arizona subsidiary received a funding offer of $6.6 billion from the Biden administration as part of the CHIPS and Science Act.

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Take-Two Interactive— Stock in the video game holding company saw a more than 2% increase following an upgrade to buy from Citi.

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UiPath Inc.— Shares of the software company rose by approximately 1% after KeyBanc upgraded the stock to overweight, citing positive developments in its go-to-market strategies and leadership changes over the past two years.

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Fastly— Shares of the cloud computing company surged nearly 4% after receiving an upgrade to overweight from Piper Sandler. Analyst James E. Fish highlighted the company's strong valuation and consistent fundamentals as factors contributing to an attractive risk-to-reward profile.

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