Coca-Cola soda tanks are seen near a taco stand in Mexico City, Mexico, Wednesday, Jan. 25, 2023.
Geoffrey Guiema | Bloomberg | Getty Images
Check out the companies making the biggest moves in pre-market trading:
Coca Cola — Shares of the beverage maker rose about 1.4% in early trade after the company reported better-than-expected first-quarter earnings, boosted by higher prices and increased demand. Revenue was roughly in line with expectations, coming in at an adjusted $10.96 billion, compared with a Refinitiv consensus estimate of $10.8 billion.
first solar — Shares fell 2.5 percent in premarket trading after Citi downgraded its rating to sell from neutral. The Wall Street firm cited a challenging long-term outlook for First Solar, which has gained about 45% so far this year.
tesla — Shares of the electric carmaker fell nearly 1% after institutional investors sent a letter to Tesla’s board demanding rein in Chief Executive Elon Musk. Last week, the company reported a more than 20% drop in net income from a year earlier.
Bed bath and others — Stocks of the most popular meme retreated 35% before the market opened Monday. Bed Bath & Beyond filed for Chapter 11 bankruptcy on Sunday, ending months of warnings the company needed more money to avoid Chapter 11 bankruptcy. Shares are down 88% from the start of the year.
credit suisse — Shares of the U.S.-listed Swiss bank rose about 2% in premarket trading. Credit Suisse said there was a net outflow of 61.2 billion Swiss francs ($68 billion) in the first quarter. However, a profit of CHF 12.43 billion was reported for the quarter due to the cancellation of CHF 15 billion of AT1 bonds.UBS’ acquisition of Credit Suisse is expected to be completed by the end of the year
C3.ai — The popular artificial intelligence stock fell nearly 5% in premarket trading after Wolfe Research downgraded the stock to underperform, citing slowing revenue growth.
Medtronic — The medical device maker rose 1.4% after Wells Fargo upgraded it to overweight from hold. The Wall Street firm expects Medtronic to benefit from a maturing product pipeline and improving medical technology trends.
Albemarle — Shares of the mining company rose nearly 3% in premarket trading, recouping last week’s losses in Albemarle. The stock fell 10% on Friday on reports that Chile is considering nationalizing its lithium mining industry. Albemarle CEO Kent Masters said on CNBC’s “Last Call” on Friday that the company’s existing mines and contracts in the country would not be affected.
— CNBC’s Tanaya Macheel, Brian Evans, Samantha Subin and Jesse Pound contributed reporting.