Stocks Making The Biggest Premarket Moves: Target, Tesla, General Motors, Docusign And More

Tesla and General Motors - Both automotive companies experienced premarket gains of 5.7% and 5% respectively. General Motors revealed its plans to utilize Tesla's electric vehicle charging network and adopt Tesla's North American Charging Standard port in its vehicles by 2025.

Corning - The glass materials manufacturer witnessed a 3.2% increase in its stock price following an upgrade by Morgan Stanley, which highlighted the company's business as being "de risked."

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DocuSign - The e-signature provider's stock rose approximately 5% in premarket trading after reporting earnings and revenue that exceeded analysts' estimates for the fiscal quarter ended April 30. Additionally, the company provided optimistic guidance and announced new service offerings and key executive hires.

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Adobe - Shares of the software company surged over 3% after receiving an overweight rating from Wells Fargo, according to Trade Algo.

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Target - The retail giant experienced a 1.3% decline as Citi downgraded the stock due to concerns regarding potential sales saturation.

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Nio - The electric vehicle company saw a 2% dip in premarket trading as it reported a 0.2% year-over-year decrease in vehicle sales. Nio's vehicle margin and net loss also worsened compared to the previous year.

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Sonoma Pharmaceuticals - The company's stock skyrocketed by nearly 33% following its announcement of a new application for its intraoperative pulse lavage irrigation treatment. This innovation has the potential to replace IV bags in certain surgical procedures. Sonoma revealed that the treatment will be available in Europe this year and commercially in the United States by 2024.