### Stocks Making Headlines in Premarket Trading
**Pfizer**
Shares of Pfizer dropped 4.2% following news that the drugmaker would halt development of its twice-daily experimental weight-loss pill. The company cited high rates of adverse side effects reported by patients in a mid-stage clinical study. However, Pfizer still plans to release trial data on its once-a-day version next year.
**Paramount Global**
The stock of Paramount Global added nearly 3% after a report from the Wall Street Journal suggested that the media conglomerate has discussed the possibility with Apple of bundling their streaming services at a discounted price.
**Elastic N.V.**
Stock in the search company surged more than 18% after receiving an upgrade to overweight from Wells Fargo. Analyst Andrew Nowinski noted that Elastic is in a strong position to take advantage of a generative artificial intelligence opportunity for its search platform, which could drive revenue moving forward.
**Disney**
Shares of Disney ticked up 0.35% following the company’s announcement that it would reinstate a previous dividend of 30 cents per share. This decision came after a proxy battle from Nelson Peltz and his firm Trian Fund Management.
**Alibaba**
The Chinese multinational slipped roughly 2% after Morgan Stanley downgraded the stock to equal-weight, citing concern over a slower-than-expected rebound in Alibaba’s cloud segment.
**Tesla**
Shares of Tesla fell 1.9% as traders digested the details of the new Cybertruck, which Tesla had a delivery event for on Thursday. This drop extended a loss of about 1.7% from Thursday’s trading session.
**Marvell Technology**
The semiconductor stock fell more than 5% after Marvell issued lower-than-expected revenue guidance for the fourth quarter, despite reporting a beat on the top and bottom lines with third-quarter results.
**Coinbase**
The cryptocurrency exchange added nearly 3% in premarket trading. A report from CoinDesk earlier on Friday disclosed that Cathie Wood’s Ark Invest sold Coinbase stock for a third time this week, totaling roughly $15 million.
**Ulta Beauty**
The stock of Ulta Beauty gained nearly 12% after the beauty products retailer reported third-quarter earnings that beat analyst expectations. Ulta reported earnings of $5.07 per share, higher than the $4.95 per share analysts had predicted.
**Dell**
Stock in the computer maker fell nearly 6% on the heels of a mixed third-quarter earnings report. While the company surpassed Wall Street estimates on earnings per share, reporting an adjusted $1.88, its revenue of $22.25 billion throughout the quarter fell short of an expected $23.001 billion.
**BioNTech**
Shares of BioNTech slipped roughly 3% after a downgrade to underweight on Friday from JPMorgan, which analyst Jessica Fye pinned to a lack of clear catalysts for the stock.
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