News

Here are some of the biggest movers ahead of Wednesday’s market open:

Stock gainers:

Shares of Nio Inc. NIO, -0.53% rose 2% after a near 4% gain in Hong Kong as the Chinese electric-vehicle maker unveiled plans for an investment of more than $1 billion from an Abu Dhabi government-backed fund.

Tesla Inc. TSLA, +5.34% stock rose 1.3% in premarket trading. The EV maker’s chief executive Elon Musk met Tuesday with India’s Prime Minister Narenda Modi, and said his company will be in India “as soon as humanly possible.”

Stock decliners:

Shares of FedEx Corp. FDX, -0.78% dropped nearly 3% in premarket trading after the logistics company’s full-year profit forecast fell short of expectations.

La-Z-Boy Inc. shares LZB, +0.99% fell 1.5% in late Tuesday trading after the furniture maker’s poor sales outlook overshadowed its earnings beat.

Shares of MSG Entertainment fell 5.4% in late trading on Tuesday. Live entertainment provider Sphere Entertainment Co. SPHR, -5.16% will sell 5.25 million shares of Madison Square Garden Entertainment Corp. MSGE, +1.59%, Madison Square Garden said on Tuesday.