NEW YORK (

TheStreet

) --

Netflix

(NFLX) - Get Report

was a big loser in premarket trading on Tuesday, tumbling 3.56% to $70.90, reversing some of its gains from Monday.

Shares of the Internet video provider rose 10.46% on Monday after

Morgan Stanley

upgraded

the company to "overweight" with an $85 price target.

The Los Gatos, Calif.-based firm was also one of the most active premarket Nasdaq stocks on share volume of 115,076.

Baidu

(BIDU) - Get Report

was another loser in premarket trading. Shares of the Chinese Internet giant were off 3.97% at $109.75 on share volume of 82,926 after the company received a

downgrade

from Credit Suisse.

Apple

(AAPL) - Get Report

shares dipped 0.34% to $636.01 before market open, despite continuing rumors about the tech giant's

iPad Mini

.

Earlier this week,

The Wall Street Journal

reported

that Apple is ordering up to 10 million units of the iPad Mini for the fourth quarter, citing some Asian component suppliers.

The Cupertino, Calif.-based company was another active premarket Nasdaq stocks on share volume of 128,322.

Facebook

(FB) - Get Report

shares slipped 0.25% to $20.35 in premarket trading, after tumbling 2.44% on Monday after analyst firm

BTIG

downgraded shares to sell with a $16 price target. BTIG analyst Richard Greenfield cited concerns about the social networker's mobile business.

Chip giant

Intel

(INTC) - Get Report

was off 1.29% to $22.22 before market open.

Shares of

IBM

(IBM) - Get Report

, which announced a cloud partnership with

AT&T

(T) - Get Report

on Tuesday, gained 0.42% to reach $210.70.

Both companies will sell the new cloud service using private networks rather than the public Internet. Targeted at Fortune 1000 companies, the service combines AT&T's virtual private networking with IBM's SmartCloud Enterprise+ technology.

--Written by James Rogers in New York.

Follow @jamesjrogers

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