Premarket Movers Monday: AMD, Tesla, AMC Entertainment

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Stocks moving in premarket trading Monday include AMD, Tesla, AMC Entertainment, Golden Nugget Online Gaming and Sanderson Farms.

Stock futures traded mostly lower Monday as investors increased bets the Federal Reserve would pull back on stimulus following a stronger-than-expected U.S. jobs report.

Here are some of the top movers during premarket trading on Monday:

1. Advanced Micro Devices – Up 0.3%

Advanced Micro Devices  (AMD) – Get Report shares wavered after analysts at BMO Capital Markets boosted their rating and target price for the chipmaker amid an improving earnings backdrop and market-share gains. 

2. Tesla – Up 1.5%

Tesla  (TSLA) – Get Report shares advanced after Jefferies analysts upgraded their rating on the stock, predicting it would rally 22% over the next 12 months as the electric carmaker continues to prove both a leader and innovator in the mass-production EV and battery market.

3. AMC Entertainment – Down 1.9%

Shares of AMC Entertainment  (AMC) – Get Report slipped as as meme-stock retail investors on stock-trading platform Stocktwits talked up the potential for the shares to extend gains. Microvast  (MVST) – Get Report was surging after also being mentioned by retail investors.

4. Golden Nugget Online Gaming – Up 54%

Golden Nugget Online Gaming  (GNOG) – Get Report shares leaped after the company agreed to be acquired by online sports-gambling company DraftKings  (DKNG) – Get Report for about $1.56 billion. The transaction is expected to close in the first quarter.

5. Sanderson Farms – Up 7.9%

Shares of Sanderson Farms  (SAFM) – Get Report surged after the chicken producer agreed to be bought by a Cargill and Continental Grain joint venture in a deal valued at $4.53 billion. Sanderson Farms will be combined with Wayne Farms, a Continental Grain subsidiary, to form a new, privately held poultry business.

Roy Walsh

Roy Walsh

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