Apple, Tesla and Hasvro fall premarket; Coinbase and Exxon Mobil rise By Investing.com - Investing.com

© Reuters.

Investing.com -- U.S. traded lower Tuesday, with investors consolidating after a stellar year ahead of the release of key manufacturing activity data.

Here are some of the biggest premarket U.S. stock movers today:

• Tesla (NASDAQ:) stock fell 1% with the electric car manufacturer facing strong competition from BYD (SZ:), with the Chinese rival selling a record 526,000 battery-powered cars in the fourth quarter. Tesla is set to release its full-year production and delivery numbers on Tuesday, and is potentially on track to sell fewer cars than BYD for the second straight year.

• Apple (NASDAQ:) stock fell 1.9% after Barclays downgraded its rating on the iPhone manufacturer to ‘underweight’ from ‘equal weight’, expressing concerns about a prolonged period of weak results and the potential for multiple expansion not being sustainable.

• Coinbase (NASDAQ:) stock rose 2.6% with the cryptocurrency exchange benefiting from the rise in bitcoin to a 21-month high on increased speculation that the U.S. Securities and Exchange Commission was close to approving a spot exchange traded fund for the world’s largest cryptocurrency.

• Exxon Mobil (NYSE:) stock rose 0.7% and Chevron (NYSE:) rose 0.8%, tracking a jump in crude prices after a naval clash in the Red Sea raised the chances of Middle East supply disruptions.

• Hasbro (NASDAQ:) stock fell 2.1% after DA Davidson downgraded its stance on the toy manufacturer to ‘neutral’ from ‘buy’, pointing to management uncertainty over when the toy business will resume growth.

• ASML (AS:) ADRs fell 3% after the Dutch government blocked the chipmaker from exporting some of its tools to China.

• Voyager Therapeutics (NASDAQ:) stock soared 30% following the news of a deal with Novartis (SIX:) that includes up to $1.2 billion in milestone payments.

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2024-01-02 12:43:00Z
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