Stocks Making The Biggest Premarket Moves: Tesla, Apple, AstraZeneca And More

Several companies are making headlines in premarket trading:

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Tesla: Shares of Tesla surged nearly 7% following the company's release of second-quarter delivery and production numbers that exceeded Wall Street's expectations. Deliveries rose by 83% compared to the previous year.

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Electric Vehicle Stocks: The broader electric vehicle sector experienced gains as Tesla's strong performance in deliveries and production boosted investor confidence. Rivian saw a 3.2% increase, while Fisker and Lucid gained more than 2% each.

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Xpeng: U.S.-listed shares of Chinese electric vehicle company Xpeng rose approximately 7% after surpassing its delivery forecast and achieving a 27% quarter-on-quarter increase, ending a period of more than a year of declines. Other China-based EV stocks, including Nio and Li Auto, also saw more than 4% gains due to solid delivery numbers.

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Apple: Apple's stock dipped 0.4% in response to reports suggesting the company's plan to reduce production of the Vision Pro headset. Apple's shares reached a market cap of over $3 trillion on Friday.

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AstraZeneca: Shares of AstraZeneca fell 5.7% in premarket trading following the company's announcement of preliminary results for a phase three trial of a lung cancer treatment. While the drug showed promising results in one aspect compared to a competitor, the overall survival data was not mature enough to establish statistical significance. The trial will continue as planned.

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United Airlines: Despite being impacted by flight delays over the holiday weekend, United Airlines' stock traded slightly higher before the market opened.

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Chinese Internet Stocks: Shares of China-based technology stocks experienced gains, contributing to the rise of the KraneShares CSO China Internet ETF. Alibaba, Pinduoduo, and JD.com saw respective increases of 1.9%, 3.2%, and 3.1%. The positive momentum came as Treasury Secretary Janet Yellen planned to meet with senior Chinese officials in Beijing later in the week.

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Energy Stocks: Energy stocks showed gains in premarket trading, driven by an increase in oil prices due to reduced supply from top exporters in August. Companies such as Halliburton, ConocoPhillips, Chevron, Devon Energy, and Occidental Petroleum saw upward movement.

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