Tesla, Coinbase and Trump Media rise premarket; Sapiens slumps

Investing.com -- US stock futures rose Monday, at the start of the new week that includes key inflation data as well as an abundance of Federal Reserve speakers.

Here are some of the biggest premarket US stock movers today: Tesla (NASDAQ:TSLA ) stock rose 7% after the EV manufacturer’s valuation closed above the $1 trillion mark on Friday, on expectations that CEO Elon Musk's companies will get favorable treatment under President-elect Donald Trump for his extensive support during the poll campaign. Coinbase Global (NASDAQ:COIN ) stock soared 16%, with the cryptocurrency exchange benefiting from the sharp gains of bitcoin, the world’s most popular digital currency. Trump Media & Technology (NASDAQ:DJT ) stock rose 5.8%, continuing Friday’s sharp gains after U.S. President-elect Donald Trump said he had no intention of selling his shares in the company, which owns his Truth Social media platform. Sapiens International (NASDAQ:SPNS ) stock fell 16% after the insurance software company cut its annual revenue guidance and its Q3 results missed expectations. Autolus Therapeutics (NASDAQ:AUTL ) stock rose 15% after US regulators gave the green light to the drugmaker’s cell therapy for adult B cell precursor acute lymphoblastic leukemia. Novo Nordisk (NYSE:NVO ) stock climbed 1.4% after the drugmaker was placed on JPMorgan’s Catalyst Watch list, signaling heightened anticipation as the company approaches a pivotal moment in its development pipeline. Cisco Systems (NASDAQ:CSCO ) stock rose 1.9% after JPMorgan upgraded its stance on the technology company to ‘overweight’ from ‘neutral’, citing an expectation of further headroom for upside in the medium term.

Source: Investing.com