Alibaba, Square, Zoom Video, Nikola – Thursday’s Premarket Movers
Stock futures rose in line with European markets on Thursday ahead of the expected announcement of a Brexit deal.
Here are some of the top movers during Thursday’s premarket trading.
1. Alibaba BABA | 8.45% decrease
Alibaba shares are listed in the United States (BABA) – Get the report fell sharply on Thursday after China’s state market regulator launched an antitrust investigation into the tech giant for, among other things, pressure on retailers to list their goods on a single online platform.
Officials from Ant Group, an online financial platform operated by Alibaba, were also invited to a meeting with regulators.
According to reports, Chinese authorities appear to be particularly concerned about tightening controls over Alibaba and other dominant internet companies expanding into finance, healthcare and other businesses.
2. Zoom the video ZM | Plus 0.81%
Video conference platform Zoom Video Communication (ZM) – Get the report is considering developing its own corporate email and calendar services, according to a report by The Information.
Zoom Video has already started work on the email service and may begin testing early next year, the report said. The additional services would allow Zoom Video to compete with Microsoft (MSFT) – Get the report and AlphabetGoogle (TogetL) – Get the report.
3. Nikola NKLA | Plus 2%
Nikola shares (NKLA) – Get the reportThe electric vehicle maker rose in premarket trading Thursday, a day after its stock fell 10% as the company agreed to make 2,500-5,000 garbage tracks for Republic Services (RSG) – Get the report was cancelled.
4th square SQ | Plus 0.99%
Shares in Square for digital payments (SQ) – Get the report, led by Twitter (TWTR) – Get the report CEO Jack Dorsey rose after the company reportedly held talks to acquire music streaming service Tidal to help diversify.
Bloomberg reported that Dorsey was discussing a possible deal with rapper and music mogul Jay-Z, who bought Tidal for $ 56 million in early 2015.