Tesla, Vir Biotechnology, Illumina Rise Premarket; Rivian Falls

Stocks in focus in premarket trade on Tuesday, January 11th. Please refresh for updates.

Tesla (NASDAQ:TSLA) stock rose 0.9% after the U.S. electric vehicle maker sold 70,847 China-made vehicles in December, the highest monthly rate since it started manufacturing in Shanghai in 2019.

Twitter (NYSE:TWTR) stock rose 0.6% after the social media giant bought a minority stake in digital advertising startup Aleph Group.

Rivian (NASDAQ:RIVN) stock fell 4.1% following reports that head of operations Rod Copes left the electric vehicle maker at the end of last month.

General Electric (NYSE:GE) stock rose 1% after Bernstein initiated coverage of the industrial conglomerate with a “buy” rating, saying the stock can rally 20% ahead of its three-way split.

CVS Health (NYSE:CVS) stock rose 1.3% after the pharmacy chain raised its full-year earnings outlook, benefiting from the need for customers to buy Covid tests and remedies.

Intel (NASDAQ:INTC) stock rose 1.1% after the chipmaker named Micron (NASDAQ:MU) finance head David Zinsner as CFO and executive vice president from Jan. 17. Micron stock fell 0.5%.

Vir Biotechnology (NASDAQ:VIR) stock rose 8.9% after the United States agreed to buy 600,000 more doses of the antibody-based Covid-19 treatment the U.S. drugmaker manufacturers with British partner GSK.

Illumina (NASDAQ:ILMN) stock rose 4.5% after impressing with its 2022 revenue outlook, noting strong demand for its gene sequencing treatments.

IBM (NYSE:IBM) stock fell 2.6% after UBS downgraded its stance on the tech giant to “sell” from “neutral”, citing an elevated valuation.