Try the businesses making headlines earlier than the bell: Coinbase — Crypto-related belongings surged after Bitcoin topped $40,000 for the primary time this yr. Coinbase jumped 7%, MicroStrategy gained 7% and Marathon Digital climbed 13%. Uber Applied sciences — The ride-hailing inventory rose 4% after S & P Dow Jones Indices on Friday mentioned it is going to enter the S & P 500, together with Jabil and Builders FirstSource . The three will change Sealed Air , Alaska Air Group and SolarEdge Applied sciences . Shares of Jabil and Builders FirstSource had been every greater by greater than 2%. Normal Motors — Shares of the Cadillac and Chevrolet maker added 1.3% after an improve from Mizuho Securities, which mentioned GM has bottomed and is poised for progress, notably after the labor settlement with the United Auto Employees. Spotify Expertise — Spotify rose greater than 1% earlier than the bell after the music streamer mentioned it is shedding 17% of its workforce because it appears to be like to trim prices amid slower progress. The cuts whole about 1,500 jobs, in response to a CNBC supply acquainted with the matter. Spotify was 129% greater for the yr as of Friday’s shut. Alaska Air Group — The Seattle-based provider slid 12% after agreeing to amass Hawaiian Airways for $1.9 billion. Alaska Air, which might pay $18 a share, would tackle $900 million in debt as a part of the deal. Hawaiian Holdings, Hawaiian Air’s mother or father, soared 182%. Alaska Air can also be popping out of the S & P 500 index. Lululemon Athletica — Shares slipped 2.1% after Wells Fargo downgraded the athleisure firm to equal weight from obese. The financial institution mentioned Lululemon’s optimistic catalysts have already performed out, and forecasts extra muted progress in 2024. Carvana — Shares jumped greater than 5% after JPMorgan upgraded Carvana to impartial from underweight. The Wall Avenue agency mentioned the net automotive retailer has bolstered productiveness and made progress chopping prices. — CNBC’s Michelle Fox, Hakyung Kim, Pia Singh and Samantha Subin contributed reporting
