Take a look at some of the biggest drivers in the premarket:
Alphabet (GOOGL) – Alphabet’s Google unit will reduce commissions it earns on third-party software sales on its Cloud Marketplace. That’s according to a person familiar with the matter who spoke to CNBC, who said Google will now only collect 3% of sales compared to the previous 20%.
Tesla (TSLA) – Tesla has rolled out a software update that allows customers to request access to its full self-driving beta software. Access will be granted to Tesla drivers who achieve a sufficiently high safety score.
Gores Guggenheim (GGPI) – The special-purpose acquisition company will take electric car maker Polestar to market through a merger, at a valuation of $ 20 billion, including debt. Polestar is controlled by automaker Volvo and its parent company Zhejiang Geely Holding Group. Gores grew 2.4% in pre-market trading.
Acceleron Pharma (XLRN) – Acceleron is in talks to be acquired by an unidentified large pharmaceutical company for around $ 180 a share, according to people familiar with the matter who spoke to Bloomberg. Bristol-Myers Squibb (BMY) is seen as a potential candidate as it already owns an 11.5% stake in Acceleron.
Box (BOX) – Box was upgraded to “outperform the market” relative to “market performance” at JMP Securities, which cited the cloud-computing company’s performance among other factors. Box added 2.2% in pre-release.
Altice USA (ATUS) – The broadband and video company was downgraded to “neutral” instead of “outperforming” at Credit Suisse, which notes the likely negative impact in the short term of an aggressive fiber development strategy. Altice USA slipped 1.8% in pre-release.
Toyota Motor (TM) – Shares of the automaker were up 1.3% pre-market after the company said it completed a 25.8 million share buyback.
Best Buy (BBY) – The electronics retailer has been named a “Big Idea” by Piper Sandler, who is excited about the upcoming launch of Best Buy’s new “Best Buy Total Tech” membership program.
Gannett (GCI) – USA Today publisher said it is looking to refinance up to $ 550 million in senior secured debt. Gannett said his plan is subject to market conditions and there can be no assurance that he will be able to execute the refinancing.