Stocks Making the Biggest Moves Premarket: Amc Entertainment, Domino’s Pizza, Tesla And More

Here are the companies making headlines in morning trading:

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AMC Entertainment: Shares surged 37% after a judge rejected a proposed settlement related to AMC Entertainment's plan to convert preferred shares into common stock. The company has now filed a revised stock plan. Preferred shares experienced a slight decline of about 2% before the market opened.

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Domino's Pizza: The stock declined nearly 4% in premarket trading following the release of mixed quarterly results. The company reported earnings of $3.08 per share on revenue of $1.02 billion. Analysts surveyed by Refinitiv had anticipated earnings per share of $3.05 on revenue of $1.07 billion.

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Mattel: The toymaker's shares gained 1.5% after the successful opening weekend of the movie based on one of its dolls, Barbie. Warner Bros. Discovery, the parent company of the studio that produced the film, also rose 0.9%.

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Tesla: The electric-vehicle stock experienced a decrease of more than 1% after UBS downgraded its shares to an underweight rating. The downgrade was based on the belief that the recent uptick in Tesla's stock fully reflects the demand boost resulting from recent price cuts.

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American Express: The financial services stock lost nearly 2% before the market opened after Piper Sandler downgraded its shares to underweight and adjusted its price target. The downgrade was driven by concerns about the company meeting its revenue and profit growth targets.

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UPS: Shares declined more than 1% before the market opened as around 340,000 employees prepared to go on strike nationwide.

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Shopify: The e-commerce stock gained 2.5% after MoffettNathanson upgraded its shares to an outperform rating, citing Shopify's enterprise business approaching an inflection point.

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Chevron: Shares rose 0.5% after Chevron announced that long-time company veteran Eimear Bonner would become the chief financial officer next year. The company also reported preliminary second-quarter earnings results, posting adjusted earnings of $3.08 per share, which exceeded analysts' estimates.

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