– The financial services company's stock fell 2.7% in the premarket after Wells Fargo downgraded it to"equal weight" from"overweight". Wells said Ally will feel pressure from Fed rate hikes and an accelerating decline in used vehicle prices, which impacts yields from leases. – Qualcomm said its future automotive business pipeline increased to $30 billion in orders, up by more than $10 billion since July.
The increase came primarily from orders for its Snapdragon Digital Chassis computer chip. Qualcomm, however, fell 2% in premarket action. – The sports-focused streaming service was upgraded to"outperform" from"neutral" at Wedbush, which sees the stock at a compelling entry point. Wedbush expressed confidence that fuboTV can successfully raise capital and cut its cash burn rate. The stock gained 2% in the premarket.