NFLX, TSLA, COIN, GME, and more

Check out which companies are making headlines in pre-market trading.

Tesla — Shares of the electric car maker added more than 3% in pre-market trading after an update on the company’s website showed that new Model 3 and Model Y vehicles were eligible for a $7,500 tax credit from the Inflation Control Act.

Netflix — The streaming giant rose 3.1% after JPMorgan raised its price target for the stock, citing the company’s efforts to limit password sharing on its platform. JPMorgan said the move could boost revenue growth.

Stitch Fix Shares jumped more than 7% after the company’s fiscal third-quarter revenue and adjusted EBITDA earnings beat expectations. The company stated that it focused on “improving efficiencies and maintaining profitability and cash flow” during the third quarter.

GameStop – The stock meme added a preliminary market gain of 2.4% ahead of quarterly results on Wednesday. Analysts polled by FactSet expect a quarterly loss of 15 cents, adjusted per share.

Petrobras — Shares of the Brazilian oil giant rose 2% in premarket trading after Morgan Stanley raised the stock to a similar overweight. The bank said Petrobras could offer investors greater returns this year than in the past.

Coinbase – The cryptocurrency exchange jumped about 2% in the primary market after selling 12% the day before. The Securities and Exchange Commission sued Coinbase on Tuesday, alleging that the company was acting as an unregistered exchange and broker. Kathy Wood of Ark Invest bought the dip on Coinbase.

NovoCure — The oncology company added 3.2% before the opening bell. The company has just completed a presentation of key data from a study associated with a treatment for lung cancer at the 2023 American Society of Clinical Oncology Annual Meeting that has reached a “primary endpoint.”

Yext — The internet marketing company rose more than 17% in pre-market trading with better-than-expected quarterly results. Yext earned 8 cents per share, adjusted for the first quarter, on revenue of $99.5 million. Analysts had expected earnings of 5 cents per share on revenue of $98.5 million, according to StreetAccount.

— CNBC’s Hakyung Kim, Jesse Pound, and Yun Li contributed reporting.