Beyond Meat, Tesla, TKMS, Kering: Trending Stocks

While Amazon (AMZN) shares were roughly flat despite a widespread AWS outage, today's big movers include Beyond Meats (BYND), which recovered some losses after sliding over 99.65% in the last five years. Investors bought Paramount Skydance (PSKY) after reports that it will layoff 2,000 workers. French luxury company Kering (KER.PA) is selling its beauty unit, including fragrances branded Gucci and Bottega Veneta, to L'Oréal (LRLCY). TKMS (TKMS.DE), the marine defense spin-off of German giant Thyssenkrupp, soars in its market debut. And Tesla (TSLA) gears up for a highly anticipated earnings report.

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Video Transcript

00:10 Speaker A

Time now to look at the stocks that are trending in early trade, and there are some big moves, but maybe not where you would expect. Amazon, for example, is barely moving, despite the widespread outage of its cloud services overnight. On the other end, Beyond Meat, it's a small but well-known name, leader in plant-based burgers. Look at its stock. It's shot up more than 6 70% uh in pre-market and the reason for such a

00:39 Speaker A

big move, well, Beyond Meat tanked after saying it would restructure its debt, but now investors are clearly seeing it as a positive sign. For context, Beyond Meat has lost more than 99.6% of its value over the last five years, and it's trading just around $1.

00:58 Speaker A

Next up, Paramount Sky Dance, the company which was recently formed in a merger in August, is planning to start mass layoffs on October 27th under CEO David Ellison. The stock is up around 1% in the pre-market after Reuters reported that the owner of CBS, Mission Impossible and Star Trek plans to save around $2 billion.

01:27 Speaker A

Next up, more dealmaking. This time in the world of French luxury. While France was just downgraded by a credit agency, some of its big corporations are pleasing investors. Shares of Kering are up more than 3%. The parent company of Gucci and Balenciaga is selling its entire beauty division to L'Oreal for 4 billion euros. Kering's stock has now nearly doubled in six months. It stands at plus 94%.

01:58 Speaker A

As this luxury giant refocuses on fashion and cuts debt. L'Oreal, which is also trading just slightly in positive territory, uh in Paris, will now have the rights to produce and distribute perfumes and other cosmetics branded Bottega Veneta, Gucci, and everything else.

02:18 Speaker A

Now, enter another big mover, TKMS, the marine defense division of Thyssenkrupp, which made its market debut today at a valuation of more than 4 billion dollars. Shares of the parent company Tissen Group fell 20% while the newly listed TKMS opened sharply higher in Germany, touching plus 80% around midday in Europe. Now just about just under 70% higher.

02:44 Speaker A

Demand for submarines and defense technology is surging as the war in Ukraine rumbles on. And the US is pushing to strike a peace deal. Just last night, President Trump told reporters that he wants Ukraine and Russia to freeze the war along current battle lines.

03:00 Speaker A

And finally, the stock that's going to be center stage this week is certainly Tesla, and the trading volumes are very high in pre-market as investors gear up for its earnings report on Wednesday night. Shares are up more than 1% ahead of the market opening.

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