Tesla (TSLA) – Tesla will ask shareholders to authorize the issuance of additional shares at the upcoming annual general meeting so that it can pay a dividend, according to a company tweet. The additional shares will allow the company to split its shares. Tesla jumped 5.4% in the premarket. Beyond Meat (BYND) – Beyond Meat fell 5.1% in the premarket after Piper Sandler’s share downgraded to “underweight” from “neutral”. Piper points to growing competition for plant-based meat substitutes, as well as lower positive expectations for the impact of McDonald’s (MCD) release nationally. Coinbase (COIN) – The cryptocurrency exchange company is said to be close to an agreement to buy 2TM, the parent company of the Brazilian cryptocurrency exchange company Mercado Bitcoin, according to a local newspaper. The newspaper reported that an agreement could be closed by the end of April. Coinbase recorded a 4.2% rally in the premarket. Apple (AAPL) – Apple reportedly cut production of the iPhone SE by 20% over the next quarter, according to a report by Japan’s Nikkei news service, which reported lower-than-expected demand. Apple fell 1.2% in preliminary trading. Poly (POLY) – The communications technology company has agreed to be acquired by HP Inc. (HPQ) for $ 40 per share, compared to Poly’s Friday close at $ 26.20 per share. The companies expect the deal to close before the end of this year. Foot Locker (FL) – The sports footwear and clothing retailer’s share fell 1.7% in preliminary trading after being downgraded by Cowen to “market return” from “overperformance”. Cowen said that despite the cheap valuation, investors may underestimate the potential impact of inflation. Barclays (BCS) – Barclays lost 3.1% in pre-market operations after the British bank revealed a loss of almost 592 million dollars due to incorrect bond transactions. He also said he would delay a planned stock purchase as a result. AMC Entertainment (AMC) – AMC CEO Adam Aron told Reuters that the company would enter into more “transformation” deals after investing $ 27.9 million in Hycroft Mining (HYMC) gold and silver mining company earlier this month. AMC added 2.2% to the premarket, while Hycroft – a microcap stock with a market value of $ 77.3 million since Friday’s close – rose 32.8%. Uber Technologies (UBER) – Uber has won a new 30-month license to operate in London. The ride-hailing service had been embroiled in a dispute with regulators over the past five years over safety issues and had lost its license twice during that period. Hasbro (HAS) – Hasbro has turned down a settlement offer with investor activist Alta Fox Capital over board nominees, according to people familiar with the matter who spoke to Reuters. Alta Fox has a 2.5% stake in the toy company and the two sides are negotiating to avoid a power of attorney competition. CORRECTION: This article has been updated to correct Piper Sandler who downgraded Beyond Meat to “underweight” from “neutral”.
