Tesla, AMC Entertainment, Bed Bath & Beyond Fall Premarket; Signify Health Rises

By Peter Nurse

Investing.com -- Stocks in focus in premarket trade on Monday, August 22nd. Please refresh for updates.

• Tesla (NASDAQ:TSLA) stock fell 2.1% after CEO Elon Musk tweeted that the electric car manufacturer is set to increase the price of its top-level driver assistance program by 25% to $15,000 from $12,000 in September.

• Signify Health (NYSE:SGFY) stock rose 38% after the Wall Street Journal reported that retail giant Amazon (NASDAQ:AMZN), down 2.1%, has entered the bidding war for the home health care services provider.

• Netflix (NASDAQ:NFLX) stock fell 2.8% after CFRA downgraded its stance on the streaming giant to ‘sell’ from ‘hold’ with the investment research firm citing the near 40% runup in its share price from the mid-July low.

• DocuSign (NASDAQ:DOCU) stock fell 4% after RBC downgraded its stance on the online cloud-based document management company to ‘sector perform’ from ‘outperform’, with the company having to deal with the abrupt departure of its CEO in June.

• Bed Bath & Beyond (NASDAQ:BBBY) stock fell 13.6%, extending the recent falls after billionaire investor Ryan Cohen announced he had disposed of his large stake in the troubled retailer.
• AMC Entertainment (NYSE:AMC) stock slumped 33% ahead of the start of trading of its new class of preferred equity, which will dilute earnings in the existing stock. Separately, its main rival Cineworld (LON:CINE), the world's second largest cinema operator, said it was exploring a bankruptcy.
• Credit Suisse (NYSE:CS) stock fell 1.3% after the Swiss lender hired Deutsche Bank's (ETR:DBKGn) Dixit Joshi as chief financial officer and promoted Francesca McDonagh to chief operating officer as part of the bank's overhaul.
• United Parcel Service (NYSE:UPS) stock fell 2.1% after Evercore ISI downgraded its stance on the delivery firm to 'in line' from 'outperform', seeing limited upside given the uncertain economic climate.