Check out the companies that make headlines before the bell. Robinhood, Applovin – Both stock trading apps and ad technology companies have surged 8% after S&P Global said they would join the S&P 500 Index on September 22. Robinhood will replace Caesars Entertainment, while Applovin will replace MarketAxess Holdings. Nutanix, Transunion – After S&P Global added to the S&P Midcapp 400 index, cloud software stock Nutanix rose 3%, replacing Acadia Healthcare for the S&P Midcap 400. Consumer credit reporting agency Transunion has increased by 2% after replacing Manpowergroup in addition to the MidCap 400. Summit Therapeutics – The biopharmaceutical company plummeted 21% after Summit’s lung cancer drug Ivonescimab showed fewer improvements in patients in Europe and North America compared to its Chinese counterparts. Gold Miner – Gold miners rose after the Financial Times reported that Tether, the world’s largest Stablecoin Company, held talks to invest in gold mining. The FT said Tether aims to invest in the entire gold supply chain and cites four people who are familiar with their recent talks. Harmony Gold Mining added 5%, HECLA Mining and Gold Field rose 4%, Anglogold Ashanti rose 3% and Coeur Mining 2%. Tesla – Electric car makers rose 1% in the wake of CEO Elon Musk’s new proposed pay package. The new salary plan worth approximately $975 billion will award Musk more than 423 million additional shares. Canada Goose – After TD Cowen upgraded its investment opinion and bought it, the Wintercoat Maker pops 4%. As a catalyst, analyst Oliver Chen cited the brand’s annual movement towards lifestyle outerwear products, along with recent modernization efforts to foster a more “culturally relevant and creative vision.” Chewy – Pet supplies rose 3% in e-commerce retailers after upgrading from Mizuho’s Neutral to Outperform. The bank predicted strong outcomes and raised guidance when reporting its financial results on Wednesday. ECHOSTAR – Telecommunications Company’s shares rose almost 23% after agreeing to sell SpaceX licenses to SpaceX for approximately $17 billion, or up to $8.5 billion, or up to $8.5 billion, for shares. T-Mobile, AT&T and Verizon dropped 4%, causing their colleagues’ telecom stocks to fall into the news. AST Spacemobile slumped to 13%. VEEVA Systems – Cloud Solutions Stock stock added 2% after JPMorgan upgraded its rating from neutral to overweight. JPMorgan said he was optimistic about Veeva’s ability to gain market share in the Life Sciences sector. Alibaba – Chinese e-commerce company rose 4% after leading the $100 million funding round for Chinese humanoid startup x Square Robot. X Square Chief Operating Officer Yang Qian told CNBC that the deal would bring Alibaba’s total investment in X Square to around 2 billion yuan, or $280 million. -CNBC’s Sean Conlon, Michelle Fox and Alex Hurling contributed the report.
Stock localities making the biggest move: SAT, Food, App, Baba
