2024

Change

Rise

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<p class="has-drop-cap">In today’s <a href="https://tokenist.com/investing/how-to-trade-after-hours/" rel="noopener noreferrer nofollow" class="deco-link">premarket trading</a>, three stocks are making significant moves driven by notable developments. Tesla (NASDAQ: TSLA) shares are surging following CEO Elon Musk’s <a href="https://www.theguardian.com/technology/2024/apr/28/elon-musk-makes-unannounced-visit-to-china" target="_blank" aria-label="successful visit to China (opens in a new tab)" rel="noopener noreferrer nofollow" class="deco-link">successful visit to China</a>, where he secured a critical mapping deal with Baidu for the company’s Full Self-Driving software.</p>
<p>Paramount Global (NASDAQ: PARA) stock is rising amid <a href="https://www.reuters.com/markets/deals/redstones-ellison-offer-concessions-paramount-investors-bloomberg-news-reports-2024-04-29/" target="_blank" aria-label="concessions offered by the Redstone family and Larry Ellison (opens in a new tab)" rel="noopener noreferrer nofollow" class="deco-link">concessions offered by the Redstone family and Larry Ellison</a> to ease investor unrest, alongside speculation about a potential CEO change and ongoing sale discussions.</p>
<p>Meanwhile, Southwest Airlines (NYSE: LUV) shares are declining due to concerns over a potential overhaul of its boarding and seating processes and a <a href="https://www.investing.com/news/company-news/jefferies-dowbeat-on-southwest-airlines-stock-cites-concerns-over-financial-stability-93CH-3402445#:~:text=On%20Monday%2C%20Jefferies%20downgraded%20Southwest,financial%20prospects%20and%20strategic%20direction." target="_blank" aria-label="downgrade (opens in a new tab)" rel="noopener noreferrer nofollow" class="deco-link">downgrade</a> from Jefferies citing financial stability and strategic direction issues.</p>
<h3 id="tesla-stock-soars-on-musk-s-successful-china-visit-baidu-deal">Tesla Stock Soars on Musk’s Successful China Visit, Baidu Deal</h3>
<p>Tesla Inc. shares surged 7.55% to $181 in premarket trading Monday, driven by CEO Elon Musk’s fruitful visit to China. During the trip, Musk secured a critical mapping deal with Chinese tech giant Baidu for Tesla’s Full Self-Driving (FSD) software, paving the way for its rollout in the world’s <a href="https://finance.yahoo.com/video/chinas-ev-price-wars-continue-152935127.html" class="deco-link" target="_blank" rel="noopener noreferrer nofollow">largest electric vehicle market</a>.</p>
<p>The agreement with Baidu is expected to significantly enhance Tesla’s capabilities in China, potentially boosting future sales and profitability. Investors reacted positively to this strategic advancement, viewing it as a key regulatory win for the electric vehicle maker in a crucial market.</p>
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<h3 id="paramount-global-shares-rise-on-concessions-ceo-change-speculation">Paramount Global Shares Rise on Concessions, CEO Change Speculation</h3>
<p>Paramount Global stock rose by 4.7% in premarket trading following the news that the Redstone family and Larry Ellison are open to offering concessions to calm investor unrest. The move comes amid speculation about a potential change in leadership and the company, with rumors circulating about the possible ousting of CEO Bob Bakish and ongoing discussions regarding a potential sale of the company.</p>
<p>These developments have increased optimism among investors, who believe that the concessions and potential leadership change could lead to a more <a href="https://tokenist.com/paramount-stock-drops-over-5-as-board-considers-sub-optimal-merger-bid/" rel="noopener noreferrer nofollow" class="deco-link">favorable outcome</a> for <a href="https://tokenist.com/investing/how-to-buy-stocks/" rel="noopener noreferrer nofollow" class="deco-link">shareholders</a>. The possibility of a strategic restructuring or successful sale has further contributed to the positive sentiment surrounding the stock.</p>
<h3 id="southwest-airlines-stock-drops-on-boarding-overhaul-concerns-downgrade">Southwest Airlines Stock Drops on Boarding Overhaul Concerns, Downgrade</h3>
<p>Southwest Airlines shares declined 2.48% to $26.36 in premarket trading after news emerged of potential major changes to its boarding and seating processes. The airline is considering a significant overhaul of these practices, raising concerns among investors about the practical and financial implications of such changes.</p>
<p>Additionally, Jefferies downgraded Southwest Airlines’ stock from Hold to Underperform, citing concerns over the company’s financial stability and strategic direction. The downgrade has further dampened investor sentiment, as it highlights the potential challenges the airline may face in maintaining operational efficiency and profitability.</p>
<p>The proposed boarding and seating overhaul and the downgrade have combined to increase skepticism about Southwest Airlines’ ability to maintain its dividend payouts in the face of potential financial distress. As a result, investors are cautiously assessing the airline’s future prospects, leading to a decline in its stock price.</p> <iframe src="https://tokenist.substack.com/embed" width="100%" height="320" style="border:1px solid #EEE; background:white;" frameborder="0" scrolling="no"></iframe>
<p><strong><em><strong><em>How will the rest of 2024 play out for Tesla and Paramount? Let us know in the comments below.</em></strong></em></strong></p>
<p><em>Disclaimer: The author does not hold or have a position in any securities discussed in the article.</em></p>
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<p>The post <a rel="noopener noreferrer nofollow" href="https://tokenist.com/premarket-movers-tesla-paramount-global-and-southwest-airlines/">Premarket Movers: Tesla, Paramount Global, and Southwest Airlines</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://tokenist.com">Tokenist</a>.</p>

Premarket Movers: Tesla, Paramount Global, and Southwest Airlines

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