Applied Materials, Tesla and StubHub fall premarket; Warner Bros Discovery rises

Investing.com -- U.S. stock futures slipped lower Friday, continuing the previous session’s selloff on concerns over the tech sector’s elevated valuations.

Here are some of the biggest premarket U.S. stock movers today:

• Applied Materials (NASDAQ:AMAT) stock slumped 5.8% after the semiconductor company warned that spending on chipmaking gear in China is anticipated to fall next year due to more stringent U.S. export controls.

• Tesla (NASDAQ:TSLA) stock fell 3.7% after the U.S. Consumer Product Safety Commission announced that the electric vehicle manufacturer is recalling around 10,500 units of its Powerwall 2, a backup battery for residential use, due to overheating risk.

• Warner Bros Discovery (NASDAQ:WBD) stock rose 2.9% after the Wall Street Journal reported that Paramount, Comcast and Netflix are preparing bids for the media company.

• StubHub (NYSE:STUB) stock dropped 17% after the ticket vendor’s CEO Eric Baker declined to provide guidance for the current quarter while reporting its first quarterly results since its September IPO.

• Cidara Therapeutics (NASDAQ:CDTX) stock more than doubled after a Financial Times report indicated that Merck (NYSE:MRK), down 0.8%, was nearing a deal to buy the biotechnology company at a premium to its current $3.3 billion market capitalization.

• Luminar Technologies (NASDAQ:LAZR) stock jumped 12% after the lidar developer outpaced revenue expectations and narrowed losses, but suspended guidance as it searches for ways to shore up its finances.

• Red Cat Holdings (NASDAQ:RCAT) stock slumped 16% after the drone maker released disappointing quarterly numbers, while slashing its annual revenue forecast.

• Figure Technology Solutions (NASDAQ:FIGR) stock rose 3.3% after the stablecoin issuer’s third-quarter earnings and revenue exceeded Wall Street projections.