Tesla, Coinbase and Trump Media Rise Premarket; Sapiens collapses By Investing.com

Investing.com – U.S. stocks rose on Monday as the start of a new week included key inflation data and numerous speakers from the Federal Reserve.

Here are some of today’s biggest premarket U.S. stock movers:

• Tesla (NASDAQ:) shares rose 7% after the electric vehicle maker’s valuation closed above the $1 trillion mark on Friday. This was due to expectations that CEO Elon Musk’s companies would receive preferential treatment under President-elect Donald Trump for his extensive support during the election campaign.

• Coinbase Global (NASDAQ:) shares rose 16%, with the cryptocurrency exchange benefiting from strong gains in Bitcoin, the world’s most popular digital currency.

• Trump Media & Technology (NASDAQ:) shares rose 5.8%, extending Friday’s strong gains after U.S. President-elect Donald Trump said he had no intention of selling his shares in the company that owns his social Media platform Truth belongs.

• Sapiens International (NASDAQ:) shares fell 16% after the insurance software company cut its full-year revenue forecast and third-quarter results fell short of expectations.

• Autolus Therapeutics (NASDAQ:) shares rose 15% after U.S. regulators gave the green light to the drugmaker’s cell therapy for B-cell precursor acute lymphoblastic leukemia in adults.

• Novo Nordisk (NYSE:) shares rose 1.4% after the drugmaker was added to JPMorgan’s Catalyst Watch list, signaling increased anticipation as the company approaches a pivotal moment in its development pipeline.

• Cisco systems (NASDAQ:) shares rose 1.9% after JPMorgan raised its rating on the technology company to “overweight” from “neutral,” citing further room for upside in the medium term.