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Stocks making the biggest move premarket: SONO, TSLA, NKE, TRV & more

Wall Street set to open in the red

Check out the companies making headlines before the bell:

Sonos — The wireless speaker maker's stock dropped more than 12 percent after releasing its first quarterly earnings report as a public company. Sonos posted a loss of 45 cents a share on revenue of $208.4 million. In a statement, the company said its revenue fell 6 percent year-over-year.

Tesla — Tesla shares fell 2 percent in the premarket after Nomura analyst Romit Shah said the stock is "no longer investable. " Shah, who downgraded Tesla to "neutral" from "buy," said that "notwithstanding improving fundamentals, we believe that Tesla is in need of better leadership."

Nike — Nike gained 0.6 percent before the bell after an analyst at Canaccord Genuity upgraded the stock to "buy" from "hold." The analyst also hiked his price target to $95 per share from $78 a share. Canaccord added that Nike's ad featuring former San Francisco 49ers quarterback Colin Kaepernick "a stroke of genius."

Travelers Cos. — The insurance giant's stock was headed for a fourth straight day of losses as Hurricane Florence approaches the Carolinas as a Category 4 storm. Shares of home improvement companies Home Depot and Lowe's, meanwhile, rose in the premarket.

Apple — UBS raised its price target on Apple shares to $250 from $215 citing the company's "recurring hardware revenue stream" from its iPhones. Analysts at the bank also said revenue for Apple's services segment could grow 20 percent on a year-over-year basis for the next two years. Apple close at $218.33 on Monday.

Snap —Snap shares rose 2.3 percent in the premarket after Wedbush Securities upgraded them to "outperform" from "neutral," and hiked its price target to $12.25 a share from $11.50 a share. The analysts noted that recent management changes, including hiring new CFO Tim Stone, "suggest the potential for a shift in strategy" for the embattled company.

Amazon — Analysts at Deutsche Bank said in a note that Amazon's acquisition of online pharmacy PillPack could accelerate the company's move into the health-care space. "We believe it is a question of when and where – and not if – Amazon enters the healthcare space more forcefully," the analysts said in a note.

Boeing — Reuters reported Boeing is bringing retired workers back as it deals with delays at its 737 jetliner plant.