Tesla and Apple rise premarket; Norfolk Southern and Lordstown Motors fall

By Peter Nurse

Investing.com -- Stocks in focus in premarket trade on Monday, March 6th. Please refresh for updates.

• Tesla (NASDAQ:TSLA) stock rose 0.5% after the electric vehicle manufacturer announced fresh price cuts to some of its premium models, including reducing the Model S by around 4% and the more expensive Model X by around 9%.

• Lordstown Motors (NASDAQ:RIDE) stock fell 1.79% after posting a larger-than-expected loss and missing its delivery target for the Endurance pickup truck.

• Apple (NASDAQ:AAPL) stock rose 1.6% after Goldman Sachs initiated coverage of the iPhone maker with a 'buy' rating, saying it can rally more than 30% due to the strength of its services business.

• Credit Suisse (NYSE:CS) stock fell 1.6% after the Financial Times reported that Harris Associates, the hedge fund that was once Credit Suisse's biggest shareholder, has sold out of its position in the struggling Swiss lender entirely.

• Norfolk Southern (NYSE:NSC) stock fell 2.25% following the news that the railroad operator suffered a second derailment in the last few weeks at the weekend with a train outside Springfield, Ohio.

• Monster Beverage (NASDAQ:MNST) stock rose 0.5% after Redburn upgraded its stance on the energy drinks company to 'buy' from 'neutral', seeing a cheap valuation.

• Altria (NYSE:MO) stock rose 0.1% after the tobacco giant announced plans to buy e-cigarette startup NJOY Holdings for about $2.75 billion in cash, in a fresh bet on the fast-growing market.