Amazon and JPMorgan stocks fall, Rivian and DraftKings shares rally, and other stocks on the move

By MarketWatch

JPMorgan Chase's stock falls after reaching an agreement with the U.S. Virgin Islands to settle pending litigation related to Jeffrey Epstein

Here are some of the notable movers in premarket trading on Tuesday:

Stock gainers:

Rivian Automotive Inc.'s stock (RIVN) revved 7% higher after Baird analyst Ben Kallo designated it a bullish "fresh pick" ahead of the electric vehicle maker's deliveries report due out next week.

Shares of DraftKings Inc. (DKNG) rallied 3% after J.P. Morgan turned bullish on the online sport betting company, as it sits within "an appealing sector, with attractive same-store and new market growth prospects, against the backdrop of an industry-wide improving operating expense control environment."

Manchester United PLC's stock (MANU) climbed 2% after Jim Ratcliffe, the chief executive of the chemical giant Ineos, was reportedly reworking his takeover bid for iconic English soccer club Manchester United, according to Bloomberg.

Intercept Pharmaceuticals Inc. shares (ICPT) soared 79% after the biopharmaceutical company announced an agreement to be acquired by Italy's Alfasigma S.p.A in a deal that values Intercept shares at an 82% premium.

Blink Charging Co. shares (BLNK) ran up more than 4% after the company said it entered an agreement with Parkopedia to integrate more than 4,000 of its electric vehicle charging stations onto the Parkopedia platform in North America.

Pliant Therapeutics Inc. shares (PLRX) shot up 12% after a trial of bexotegrast, a treatment for a chronic liver disease, met its primary and secondary goals and showed that bexotegrast was well tolerated.

Stock decliners:

Shares of Amazon.com Inc. (AMZN) sank 3% after the ecommerce giant was sued by the U.S. Federal Trade Commission, which said the company was a "monopolist" that used "a set of punitive and coercive tactics to unlawfully maintain its monopolies."

JPMorgan Chase & Co. shares (JPM) fell 1% after the bank said it reached an agreement in principle with the U.S. Virgin Islands to pay $75 million to settle pending litigation related to Jeffrey Epstein.

United Natural Foods Inc.'s stock (UNFI) tumbled 24% toward a three-year low, after the grocery wholesaler swung to a fiscal fourth-quarter loss, and posted sales that missed expectations.

Shares of Sirius XM Holdings Inc. (SIRI) shed more than 4%, after Liberty Media Corp. proposed that Sirius XM's stock and Liberty Sirius XM tracking stock (LSXMA) combine to form a new public company, New Sirius XM. LSXM shares rose more than 4%.

-MarketWatch

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09-26-23 1259ET

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