Stocks making the biggest moves premarket: Macy’s, Tesla, Novo Nordisk and more

Before the stock market opens, take a look at the companies grabbing all the headlines.

  1. Crypto shares — The value of stocks linked to bitcoin took a hit as the digital currency fell 5% to its lowest since February. This dip came in line with the former Mt. Gox exchange beginning reimbursements to its creditors. Coinbase and MicroStrategy both slipped 5% in premarket trading. On the mining front, Iris Energy plummeted 8%, CleanSpark descended 5% and Marathon Digital and Riot Platforms slipped 6% and 4% respectively.

Instructure — The edtech company’s stock surged over 3% due to growing interest from Francisco Partners and KKR for a potential acquisition. These two private equity powerhouses are in the final bidding round and are expected to table binding offers next week, as per sources.

Macy’s — The retailer’s stock value rose over 6% following a report in the Wall Street Journal stating that an investor group has raised its acquisition offer. Arkhouse Management and Brigade Capital Management have reportedly increased their offer to roughly $24.80 per share, a surge from their previous offer of $24.

Tesla — The global leader in electric vehicles saw its stock rise 2%, extending its comeback streak after its Q2 vehicle deliveries beat analyst predictions earlier this week. Its shares went up 24% for the week leading up to Friday.

Novo Nordisk — The pharmaceutical giant saw its U.S. traded shares climb 1.9% even after a Harvard study linked one of its drugs, semaglutide, to an increased risk of a rare eye disease. Deutsche Bank downplayed the study stating the evidence’s quality was “very low” and the results bore minimal implications.

Shell — The energy giant’s shares went up 1% despite announcing an impairment hit of up to $2 billion linked to its plants in Singapore and Rotterdam.

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Stocks making the biggest moves premarket: Macy’s, Tesla, Novo Nordisk and more

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