Tesla, Levi Strauss fall premarket; Meta, Alibaba and Rivian rise By Investing.com

Investing.com — U.S. traded largely unchanged Friday, with investors cautious ahead of the release of the widely watched monthly official jobs report, which could provide more clues as to the Federal Reserve’s intentions at its next meeting later this month.

Here are some of the biggest premarket U.S. stock movers today:

• Meta Platforms (NASDAQ:) stock rose 0.4% despite Twitter reportedly threatening to bring legal action against the Facebook owner over its new Threads app, launched earlier this week as a “friendly” alternative to Twitter.

• Tesla (NASDAQ:) stock fell 0.3% after Bloomberg reported that the electric vehicle manufacturer has started laying off some battery production workers at its Shanghai plant.

• Alibaba (NYSE:) ADRs rose 3.7% following a Reuters report that the Chinese government will slap a fine of around $1 billion on Ant Group, bringing an end to the affiliate fintech company’s years-long regulatory overhaul.

• Levi Strauss (NYSE:) stock fell 7.8% after the jeans manufacturer cut its annual profit forecast, in a sign that higher costs were weighing on its margins as it struggles with falling sales.

• Rivian Automotive (NASDAQ:) stock rose 4.2% after Wedbush raised its price target on the EV manufacturer to $30 from $25, maintaining its ‘outperform’ rating as the production ramp and cost optimization efforts are both expected to translate into better earnings.

• Fisker (NYSE:) stock fell 2% after the electric vehicle startup missed its production target for the second quarter due to shortage of components.

• Zoom Video Communications (NASDAQ:) stock rose 0.2% after the video communications company sees strong growth in the Asia-Pacific region despite a weaker outlook.