Stocks making the biggest moves premarket: Tesla, Paramount, Domino's, Southwest Airlines and more

Published Mon, Apr 29 20248:00 AM EDTUpdated Mon, Apr 29 20248:11 AM EDT

Check out the companies making headlines in premarket trading: Tesla — Shares rocketed more than 10% during premarket trading after the electric vehicle company said on Sunday that local Chinese authorities removed restrictions on its cars , raising expectations that Tesla's driver-assistance software Full Self-Driving would soon be available in the country. Paramount — The entertainment company saw shares climb more than 5% in premarket trading after reports that its board is preparing to fire CEO Bob Bakish as soon as Monday morning. Paramount reports earnings Monday after the bell. Domino's Pizza — Shares of the pizza chain jumped more than 5% after a first-quarter earnings beat. Domino's reported $3.58 in earnings per share versus the $3.39 expected by analysts polled by LSEG. U.S. same-store sales growth increased year over year. Southwest Airlines — The airline stock dipped 1.2% after Jefferies downgraded shares to underperform from hold. Analyst Sheila Kahyaoglu said it is time to throw the "Baby out with the bathwater" after the company missed its lowered guidance for first-quarter revenue per available seat mile, or RASM. Apple — Shares rose more than 2% after Bernstein upgraded the tech stock to outperform from market perform. Analyst Toni Sacconaghi said concern about recent weakness in China may be overdone and signals it is time for investors to "buy the fear." Lululemon — Shares of the athletic apparel retailer slipped 1.6% after being downgraded at Barclays to equal weight from overweight. The firm cited shifting consumer spending trends and higher competition for the call. SoFi — Shares rose more than 2% after the consumer fintech company posted first-quarter earnings of 2 cents per share on revenue of $581 million, which topped analysts' estimates of 1 cent per share on revenues of $556 million, per LSEG. AMC Entertainment — Shares slipped more than 1% after the movie theater giant preannounced a first-quarter loss of 62 cents per share, compared to FactSet estimates of 79 cents per share. The company also said it expects box office performance for the second quarter to remain pressured by last year's strikes. — CNBC's Sarah Min, Yun Li, Michelle Fox, Pia Singh and Jesse Pound contributed reporting.