Pre-Market Movers: AMD rises, Peloton and Tesla Dip, Exxon and Pfizer on Watch

By Daniel Shvartsman

Investing.com -- Stocks in focus in pre-market trade on Friday, December 31st. Prices as of 8:40am ET, please refresh to see updated pricing.

Advanced Micro Devices Inc (NASDAQ:AMD) traded up 1% after announcing that their acquisition of Xilinx Inc (NASDAQ:XLNX) was still on track but would be delayed to Q1 2022. Xilinx shares are down 1.4% on the lengthened deal timeline. Tesla (NASDAQ:TSLA) is up .5% despite news of a recall of nearly 200,000 cars in China as well as reports that China will reduce and then end subsidies for electric and "new energy" vehicles. Nio Inc Class A ADR (NYSE:NIO) shares are down .5% after jumping nearly 15% yesterday. Peloton (NASDAQ:PTON) shares took a 1.4% dip after another sell-side analyst downgraded the stock on concerns that the current quarter is not going well. Exxon Mobil (NYSE:XOM) shares are down .3% despite pre-announcing that Q4 results would improve on Q3's numbers, mostly due to their upstream business and the strength in the price of oil. Enbridge Inc (NYSE:ENB) is up .2% after announcing a share buyback of up to C$1.5B, good for 1.5% of their float.

Xeris Pharmaceuticals Inc (NASDAQ:XERS) is up 25% after receiving FDA approval of Recorlev for the treatment of endogenous hypercortisolemia in adult patients With Cushing’s Syndrome.

Medalist Diversified Reit Inc (NASDAQ:MDRR) is up 30% after the micro-cap REIT announced a share buyback of up to 3% of its shares outstanding. Nutriband is up 54% after announcing that the Korean Intellectual Property Office (KIPO) a patent for Nutriband's lead technology, AVERSA. Pfizer Inc (NYSE:PFE) is up .4% after the U.K. approved the use of its antiviral pill Pavloxid for treatment of adults with Covid-19. NetEase Inc (NASDAQ:NTES) traded 3.5% lower in pre-market hours. Fellow Chinese firms Pinduoduo (NASDAQ:PDD) and Baidu Inc (NASDAQ:BIDU) each traded .8% lower as well. Reliance Global Group Inc (NASDAQ:RELI) traded 3.9% lower, though after more than tripling in the past couple weeks in what may be one last short squeeze for 2021. Xcel Energy Inc (NASDAQ:XEL) is trading 3% lower though on no specific news.

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