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Premarket Movers Monday - Visa, Peloton, Biogen, Tesla

Stocks moving in premarket trading Monday include Visa, Peloton. Biogen and Tesla.

Stock futures slipped Monday after Wall Street rallied to close out last week. The market move followed a jobs report that eased concern that the Federal Reserve would be pulling back on economic support.

Dow Futures Gain After Mixed Jobs Report; Nasdaq Eases on G-7 Tax Deal

Here are some of the top movers during premarket trading Monday.

1. Biogen BIIB | Up 5.5%

Shares of Biogen  (BIIB) - Get Biogen Inc. Report were higher ahead of the U.S. Food and Drug Administration's decision whether to clear the company's Alzheimer's drug, aducanumab.

An approval would make aducanumab the first authorized treatment for the memory-destroying disease.

Analysts have been mixed on whether clearance will be granted. Whatever the FDA decision, the impact on Biogen’s stock could be huge, they said. The stock finished Friday's trading up 5%.

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2. Visa V | Up 1.1%

Visa  (V) - Get Visa Inc. Class A Report stock advanced after Piper Sandler analyst Christopher Donat upgraded the payment processor's stock to overweight from neutral.

Donat said the U.S. economy recovering more quickly than some international markets could help flip the dynamic between Mastercard  (MA) - Get Mastercard Inc. (MA) Report and Visa. 

The investment firm added that Visa stock looked cheaper compared with Mastercard, which has outperformed Visa since the start of 2020.

3. Peloton PTON | Up 2.2%

Shares of Peloton  (PTON) - Get Peloton Interactive, Inc. Class A Report were higher after a Loop Capital analyst said investors should buy the dip in the connected-fitness company's stock.

Analyst Daniel Adam initiated coverage of the stock on Monday with a buy rating. He said in a note to clients that the recall was weighing on the stock more than it should.

In May, U.S. regulators and the company jointly said they were recalling the Tread+ and Tread treadmill machines after injuries and a death.

4. Tesla TSLA | Down 0.5%

Shares of Tesla  (TSLA) - Get Tesla Inc Report dropped after the electric-car maker said it was pulling the plug on its Model S Plaid Plus electric car. Tesla Chief Elon Musk said Sunday the company acted because the regular Plaid is “so good.”

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