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Tesla, Micron and WWE fall premarket; McDonald's, Li Auto rise

Investing.com
·2 min read

By Peter Nurse

Investing.com -- Stocks in focus in premarket trade on Monday, April 3rd. Please refresh for updates.

Tesla (NASDAQ:TSLA) stock fell 3.2% after the electric car manufacturer said on Sunday it had delivered a record 422,875 vehicles in the first quarter of the year. While this is up 4% from the previous three months and up 36% from the same quarter in 2022, it’s still well short of the target that Chief Executive Elon Musk has set for the company this year.

Micron (NASDAQ:MU) stock fell 0.6%, extending Friday’s losses that were sparked by a decision from China to launch a review of imports from the U.S. memory-chip maker.

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WWE (NYSE:WWE) stock fell 6.2% and Endeavor (NYSE:EDR) stock rose 1% after the two companies agreed to merge to form a new combat sports and entertainment group to be controlled by Endeavor, which owns UFC.

McDonald’s (NYSE:MCD) stock rose 0.7% after the Wall Street Journal reported that the fast food chain is temporarily closing its U.S. offices this week as it prepares to inform corporate employees about its layoffs as part of a broader company restructuring.

Li Auto (NASDAQ:LI) stock rose 1.3% after the Chinese electric vehicle manufacturer sees first-quarter deliveries surge by 66%.

Automatic Data Processing (NASDAQ:ADP) stock fell 2.9% after Bank of America downgraded its stance on the provider of business services software to ‘underperform’ from ‘neutral’ ahead of its third-quarter earnings.

First Solar (NASDAQ:FSLR) stock fell 2% after Morgan Stanley downgraded its stance on the manufacturer of solar panels to ‘underweight’ from ‘equal weight’ on valuation.

Paychex (NASDAQ:PAYX) stock fell 2.1% after Bank of America downgraded the payroll services company to ‘underperform’ from ‘neutral’ in the wake of last week’s quarterly earnings.

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