Premarket movers: Alibaba, Bristol-Myers, eBay and more

Several largecap stocks moved sharply in premarket trading on Monday after company news and analyst actions. AstraZeneca and Bristol Myers Squibb traded in opposite directions after the Financial Times reported the drugmakers were in merger talks. AstraZeneca fell more than 4%, while Bristol Myers Squibb rose more than 5%. Alibaba gained about 4% after introducing a new AI model, while ArcelorMittal advanced more than 2% after expanding its technology partnership with Microsoft. Ferguson Enterprises jumped nearly 8% after S&P Dow Jones Indices said it will join the S&P 500, replacing Electronic Arts later this week. eBay fell more than 3% after Wells Fargo downgraded the stock, and Circle Internet Group declined after a Morgan Stanley downgrade. Memoryrelated stocks, including SanDisk, Micron Technology and Seagate Technology, were also lower.