Premarket movers include Alibaba, Quest Diagnostics, On Holding and GameStop
Premarket movers: Alibaba, Quest Diagnostics and GameStop react to key updates See why shares jumped or fell as investors weigh guidance, rates and buybacks
Alibaba shares rose after CEO Eddie Wu said at the company’s Apsara Conference that Alibaba Cloud plans to expand its global data center capacity and unveiled a new chip.
Quest Diagnostics and Labcorp fell after a CMS report said Medicare has been paying more for laboratory services than private insurers, and the agency said it plans to align most Medicare payments with privatesector rates.
Other notable premarket movers included Vicor, which gained after issuing thirdquarter guidance for stronger sequential revenue growth, On Holding, which advanced after setting new midterm targets and announcing a share repurchase plan, and GameStop, which rose after CEO Ryan Cohen disclosed a large share purchase.