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Alibaba plans to split itself into six units.
Greg Baker/AFP via Getty Images
Stock futures traded flat Tuesday as concerns over the global banking sector eased.
These stocks were poised to make moves Tuesday:
U.S.-listed shares of
Alibaba
(BABA) rose 7.1% in premarket trading after the Chinese tech giant said it plans to split itself into six units—including one for cloud computing—each of which will explore fundraising including possible initial public offerings.
Lyft
(LYFT) shares rose 5.3% in premarket trading after the ride-sharing company named board member David Risher as chief executive. Lyft said Monday that co-founder Logan Green, who had been serving as CEO, and co-founder John Zimmer, the current president, would be moving into non-executive roles on the board. Risher will begin in his new role on April 17. Lyft shares have decline 12.9% in 2023.
PVH
(PVH), the owner of the Calvin Klein and Tommy Hilfiger brands, topped fourth-quarter adjusted earnings and sales estimates.
PVH
stock rose 11.7% in premarket trading.
Shares of crypto exchange
Coinbase Global
(COIN) fell 1.4% in premarket trading. The stock tumbled 7.8% in the previous session after the Commodity Futures Trading Commission sued crypto exchange operator Binance and its co-founder and Chief Executive Changpeng Zhao.
Virgin Orbit
(VORB) dropped 12.5% to about 47 cents after Dan Hart, CEO of the
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