By Peter Nurse
Investing.com -- Stocks in focus in premarket trade on Monday, June 6th. Please refresh for updates.
Didi Global (NYSE:DIDI) ADRs soared over 60% after The Wall Street Journal reported that Chinese regulators are set to end an investigation into the ride-hailing giant after nearly a year, allowing the company to add new users.
Alibaba (NYSE:BABA), Baidu (NASDAQ:BIDU), and JD.com (NASDAQ:JD) stocks all advanced between 4% and 6% as investors also cheered the major Chinese cities steadily returning to normal life after the country's biggest COVID-19 outbreak in two years.
Starbucks (NASDAQ:SBUX) stock rose 2% after the coffee chain stated that Howard Schultz would remain its interim chief executive officer until the end of the first quarter next year, as it looks for a permanent successor.
Tesla (NASDAQ:TSLA) stock rose 2.9% after CEO Elon Musk backtracked from an email late last week which indicated that job cuts of 10% were needed, saying over the weekend that the electric vehicle maker's total headcount will increase over the next 12 months, but the number of salaried staff should be little changed.
Apple (NASDAQ:AAPL) stock rose 1.4% with the tech giant holding its annual software developer conference Monday, with investors looking for any hints about the viability of a future mixed-reality headset.
Spirit Airlines (NYSE:SAVE) stock rose 5.7% after rival JetBlue Airways (NASDAQ:JBLU), up 1.3%, submitted an improved proposal to acquire the low-cost carrier.
Advanced Micro Devices (NASDAQ:AMD) stock rose 1.8% after the chipmaker entered a partnership with Nio (NYSE:NIO), up 5.2%, to supply chips to the Chinese electric vehicle maker.
Keurig Dr Pepper (NASDAQ:KDP) stock rose 8.1% after the soft drinks company was added to the S&P 500 index, replacing sports equipment company Under Armour (NYSE:UA), down 0.8%.
Spotify (NYSE:SPOT) stock rose 4.7% after Raymond James upgraded its stance on the music streaming service to ‘outperform’ from ‘market perform’, saying it’s in much better shape than Netflix (NASDAQ:NFLX).
Crowdstrike (NASDAQ:CRWD) stock rose 3.4% after Morgan Stanley upgraded the cybersecurity company to ‘overweight’ from ‘equal weight’, saying the company offers value in an uncertain macro environment.
Walt Disney (NYSE:DIS) stock rose 0.9%, benefiting from more customers at its entertainment parks even as Deutsche Bank cuts its price target to $130 from $191, citing concerns over the streaming video industry.