Stocks making the biggest premarket moves: Alibaba, Dice Therapeutics, Avis and more

Check retired the companies making the biggest moves successful premarket trading:

Alibaba — U.S.-listed shares fell 2.3% aft the China e-commerce elephantine announced CEO Daniel Zhang was stepping down and volition beryllium replaced by Eddie Wu, one of Alibaba's co-founders. The determination follows the company's announcement successful March it was restructuring its concern into six concern groups.

Atmus Filtration Technologies — Shares of the aerial filtration institution roseate much than 2% aft a slew of analysts initiated sum with bullish ratings, including JPMorgan. The slope said Atmus trades astatine a "deep discounted valuation vs. peers, contempt >80% of aftermarket mix, portion its planned enlargement into concern filtration should span the valuation spread vs. nonstop filtration peers implicit time."

Dice Therapeutics — The biopharmaceutical banal soared 37.7% aft Eli Lilly said it was acquiring the company for $48 per share, oregon astir $2.4 billion, successful cash.

Avis Budget — Shares added 3.5% successful airy measurement pursuing an upgrade by Morgan Stanley to overweight from adjacent weight. Analyst Adam Jonas besides upped his terms people to $230 from $182, suggesting 12.6% upside. Jonas cited Avis' proven way grounds of fleet hazard absorption and little operating expenses comparative to sales.

Philip Morris International — Shares of the baccy institution roseate 1.5% successful premarket trading aft Citi upgraded Philip Morris to bargain from neutral. Investors are undervaluing the maturation of fume escaped products, according to Citi.

Warner Bros Discovery — The media and amusement conglomerate's banal slid 1% aft its movie "The Flash" took successful an estimated $55 million during its archetypal three-day weekend, little than the $75 cardinal to $85 cardinal the manufacture had expected.

Carnival — Shares moved 1.5% higher successful the premarket, gathering connected gains made past week erstwhile it was the S&P 500's champion performer. Cruise stocks are soaring this twelvemonth arsenic the companies retrieve from the Covid pandemic — the past successful the question manufacture to bash so.

— CNBC's Jesse Pound contributed reporting.