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Premarket Movers Tuesday - Tesla, Palantir, Novavax, Virgin Galactic

Stocks moving in premarket trading Tuesday include Novavax, Virgin Galactic, Tesla, Palantir and NortonLifeLock.

Stock futures tumbled Tuesday, extending a drop fueled by a sharp selloff in technology shares.

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

1. Novavax NVAX | Down 13.27%

Shares of Novavax  (NVAX) - Get Report fell sharply early Tuesday after the biotech reported a delay in its plan to seek clearance for its coronavirus vaccine candidate to the third quarter which starts in September. 

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Novavax earlier had said the vaccine could be authorized in the U.S. as early as May.

Delays in clinical-trial results coupled with manufacturing delays had slowed the process by which the company would seek Food and Drug Administration clearance, people briefed on the matter had told the Washington Post.

2. Tesla TSLA | Down 6.61%

Shares of Tesla  (TSLA) - Get Report fell ahead of the opening bell on Tuesday after the electric vehicle maker reportedly halted plans to buy land to expand its Shanghai plant and make it a global export hub because of uncertainty created by tensions between the U.S. and China.

3. Palantir PLTR | Down 9.47%

Shares of Palantir  (PLTR) - Get Report fell on Tuesday despite posting sales that beat analysts' forecasts and saying it sees stronger growth ahead amid an unexpected surge in stock compensation costs.

4. Virgin Galactic SPCE | Down 19.83%

Shares of Virgin Galactic  (SPCE) - Get Report plunged in premarket trading after the company announced that it has yet to set a target date for its next spaceflight test, which was previously planned for this month.

5. NortonLifeLock NLOK | Up 2%

Shares of NortonLifeLock  (NLOK) - Get Report advanced in premarket trading a day after the consumer cybersecurity titan beat earnings expectations for fiscal fourth quarter, and announced a $1.5 billion boost to its share buyback plan.

NortonLifeLock is a holding in Jim Cramer's Action Alerts PLUS member club. Want to be alerted before Jim Cramer buys or sells NLOK? Learn more now.

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