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Premarket Buzz: Alibaba, Dice Therapeutics, Avis, and Other Stocks with Significant Movements

Latest Business News

Stocks to Watch: Alibaba, Atmus Filtration Technologies, Dice Therapeutics, Avis Budget, Philip Morris International, Warner Bros Discovery, Carnival


U.S.-listed shares of Alibaba fell 2.3% after the company announced that CEO Daniel Zhang was stepping down to be replaced by its co-founder Eddie Wu. The move follows the company's restructuring of its business into six groups, announced in March.

Atmus Filtration Technologies

Shares of the air filtration company Atmus rose over 2% after analysts initiated coverage with bullish ratings, including JPMorgan. The bank said Atmus trades at a "deep discounted valuation vs. peers, despite >80% of aftermarket mix, while its planned expansion into industrial filtration should bridge the valuation gap vs. direct filtration peers over time."

Dice Therapeutics

Biopharmaceutical stock Dice Therapeutics saw its shares soar 37.7% after Eli Lilly revealed that it was acquiring the company for $48 per share, or about $2.4 billion, in cash.

Avis Budget

Shares of car rental company Avis Budget added 3.5% after an upgrade by Morgan Stanley to overweight from equal weight. Analyst Adam Jonas also upped his price target to $230 from $182, suggesting 12.6% upside. Jonas cited Avis' proven track record of fleet risk management and lower operating expenses relative to sales.

Philip Morris International

Tobacco company Philip Morris International's shares rose 1.5% in pre-market trading after Citi upgraded the company to buy from neutral, citing undervaluation of the growth of smoke-free products.

Warner Bros Discovery

Media and entertainment conglomerate Warner Bros Discovery saw its shares fall 1% after its movie "The Flash" took in an estimated $55 million during its first three-day weekend, less than the $75 million to $85 million the industry had expected.


Cruise ship company Carnival saw its shares move 1.5% higher in pre-market trading, building on gains made last week when it was the S&P 500's best performer. The cruise industry is rebounding from the Covid pandemic, which was the last in the travel industry to recover.
As a new business entering the market, it is important to stay up-to-date with the latest news and trends in the relevant industries. The stocks to watch mentioned above provide insight into the performances and changes of major companies in varied industries, including technology, biopharmaceuticals, car rentals, media and entertainment, and cruise ships.

One trend to note is the increasing interest in smoke-free products and the growth potential of companies like Philip Morris International. Another trend to follow is the increased focus on air filtration technologies and their expansion into industrial filtration systems, as seen with Atmus Filtration Technologies.

However, it is important to also be aware of the volatility of the stock market and the potential impact of important leadership changes, such as the recent announcement of Alibaba's CEO stepping down. These changes can have a significant impact on stock prices and the overall perception of a company.
Staying informed about the current state of the stock market can help new businesses make informed decisions about investments, partnerships, and long-term planning. By keeping an eye on the stocks to watch, businesses can better understand industry trends and make strategic decisions to stay competitive in the ever-changing market.

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