![Stocks making the biggest premarket moves: Activision Blizzard, Chewy, Yelp, Tesla and more Stocks making the biggest premarket moves: Activision Blizzard, Chewy, Yelp, Tesla and more](https://image.cnbcfm.com/api/v1/image/107055963-16516799652022-05-04t155357z_1939990606_rc203s9y38hx_rtrmadp_0_netflix-shareholders-lawsuit.jpeg?v=1689604872)
A Call of Duty: Modern Warfare video game from Activision Blizzard is inserted into Microsoft’s Xbox One video game console.
Michel Ciaglo | Bloomberg | Getty Images
Find out which companies are making the biggest moves before the bell.
ActivisionBlizzard — The video game maker jumped 4% after Microsoft and Sony signed a deal to keep Call of Duty on Sony’s PlayStation game consoles following Microsoft’s acquisition of Activision Blizzard.
Soft — Shares jumped more than 5% after Goldman Sachs upgraded them to buy neutral. The company said the e-commerce pet products company has an attractive risk/reward profile and could see margins increase.
PepsiCo — The beverage giant fell 1.2% following a downgrade from Morgan Stanley at equal weight due to being overweight. Pepsi’s strong earnings report and its upside potential are now priced into the stock, leading to a limited upside ahead, Morgan Stanley said.
Yelp — Stocks gained 3.6% after falling upgraded by Goldman Sachs to buy neutral. The Wall Street bank also raised its price target to $47, suggesting a 23.3% upside from Friday’s close. Goldman cited rising advertising trends, additional margin opportunities and increasing shareholder returns in the coming years for the call.
You’re here — The electric vehicle manufacturer added nearly 2% in premarketing. On Saturday, the company said so builds his first cybertruck after two years of delay.
World Paramount – Shares of the entertainment company fell 2.8% in premarket trading after the franchise’s latest installment “Mission: Impossible” underperformed box office expectations. The film grossed $56.2 million domestically over the weekend – which was lower than the previous film in the franchise – and $80 million in its first five days of release. according to Variety.
AT&T – Shares fell 1.5% on Citi’s downgrade to neutral since buying. The Wall Street firm cited the industry’s historic use of lead-sheathed cables weighing down the company for at least a few months or potentially longer.
State Street — The financial giant slid about 2% in premarket trading. The stock was downgraded by JPMorgan from neutral to underweight after State Street’s earnings release on Friday. State Street’s second-quarter earnings missed estimates, sending shares tumbling 12.1% on Friday.
Figs – Shares of the clothing company fell 4.6% in premarket trading after Raymond James downgraded Figs to market performance from outperformance. A slowing economy and restarting student loan repayments could hurt Figs’ growth in the near term, according to Raymond James.
– CNBC’s Jesse Pound, Hakyung Kim and Michael Bloom contributed reporting.