Stocks making big moves premarket: Alphabet, Zymeworks and more
Check out the companies making headlines in premarket trading. Alphabet — The YouTube and Google owner rose more than 4% after Warren Buffett’s Berkshire Hathaway revealed it took a more than $4 billion stake in Alphabet in the third quarter. Zymeworks and Jazz Pharmaceuticals — Drugmakers Zymeworks and Jazz Pharmaceuticals reported Phase 3 trial results of their cancer drug Ziihera. Zymeworks shares surged about 35%, while Jazz rose nearly 21%. Lithium stocks — Citing a local Chinese news source, Bloomberg reported Ganfeng Lithium Group Company chairman Li Liangbin forecast Sunday that lithium demand will grow 30% in 2026. Albemarle, the largest U.S. producer, climbed 4%; Sigma Lithium popped 26%; and Lithium Argentina and Lithium Americas rose about 8% and 3%, respectively. Quantum Computing — Shares jumped 21% after the quantum computing provider issued a strategic roadmap toward scalable quantum and photonic manufacturing. Clearwater Analytics Holdings — Speculation that Clearwater is weighing a deal to go private drove the stock 10% higher. Bloomberg reported late Friday Friday that Warbug Pincus and Permira are in talks to buy the investment and accounting software maker. Alibaba — E-commerce giant Alibaba unveiled Qwen App, its revamped Chat GPT-like artificial intelligence application, in China, pushing up its shares 2.5%. Gap — The apparel retailer added nearly 3% on the back of an upgrade at Barclays to overweight from equal weight. The bank said Gap is executing a disciplined turnaround and should see a durable brand recovery. Apple — Investors reacted to a Friday report in the Financial Times that Apple is ramping up preparations to identify and name a successor to CEO Tim Cook. Apple fell 1%. Xpeng — U.S.-listed shares lost nearly 4% after the Chinese electric car maker posted mixed third-quarter results, with its adjusted loss coming in narrower than analysts polled by FactSet had expected, while revenue roughly matched estimates. Fourth-quarter revenue guidance fell short of the consensus estimate. Aramark — The food services provider dropped 7% after fiscal fourth-quarter adjusted earnings of 57 cents trailed the 64 cents that analysts polled by FactSet had expected. Aramark’s $5.05 billion revenue also fell short of the $5.16 billion consensus. Aramark guidance for the fiscal year ending Sept. 2026 of adjusted earnings per share of $2.18 per share to $2.28 compared with the $2.27 analysts were expecting. — CNBC’s Michelle Fox-Theobald, Fred Imbert, Sean Conlon, Alex Harring and Lisa Han contributed reporting
