Tesla, GM, Lucid, Alibaba, and More Stock Market Movers

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Stock futures were falling Monday as investors traded cautiously ahead of the Federal Reserve’s decision on interest rates this week and earnings from some of the world’s largest technology companies.

These stocks were poised to make moves Monday:

Tesla (TSLA) was falling 0.4% in premarket trading. The stock received an upgrade to Buy from Hold from analysts at Berenberg. Tesla rose about 33% last week. General Motors (GM) declined 2.2% after Berenberg reduced its rating on shares of the auto maker to Hold from Buy.

Lucid

(LCID) was rising more than 4% after the stock closed Friday with a gain of 43% amid unconfirmed rumors that the company could be acquired.

Lucid

declined to comment after stock news aggregation site The Fly on the Wall attributed the share spike to takeover speculation by stock research blog Betaville that the Saudi Arabia Public Investment Fund, which has invested in Lucid, would acquire the electric-vehicle company. Lucid declined to comment. 

American depositary receipts of Alibaba (BABA) were down 5.4% in premarket trading amid reports the Chinese e-commerce giant was moving its headquarters to Singapore. The company denied the speculation.

Royal Philips (PHG) said it would cut 6,000 jobs by 2025, adding to the 4,000 job cuts the company announced in October, in a plan the Dutch maker of medical equipment said was to “drive progressive value creation.” American depositary receipts of Philips gained 6.6%.

Kohl’s

(KSS) fell 2.4% after the retailer’s stock was initiated with a Sell rating at

Goldman Sachs
.

GE HealthCare

(GEHC) fell slightly after reporting fourth-quarter adjusted earnings of $1.31 a share vs. a year-earlier $1.36. It’s the company’s first earnings report as a publicly traded company.

Write to Joe Woelfel at joseph.woelfel@barrons.com

Write to Joe Woelfel at joseph.woelfel@barrons.com