US STOCKS-Tesla, Twitter among premarket's biggest movers

Thu Oct 2, 2014 7:50am EDT
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By Ryan Vlastelica

NEW YORK Oct 2 (Reuters) - Tesla Motors Inc was one of the biggest movers of Thursday's premarket session, after the company's chief executive hinted at a new product that would be unveiled next week.

Elon Musk, CEO of the electric car company, wrote on Twitter that it was "about time to unveil the D and something else." An image that accompanied the tweet suggested the unveiling might include a new vehicle model.

Shares were up 3 percent to $247.50 before the bell. The stock has rallied about 60 percent in the year to date, building on last year's surge of more than 340 percent.

Twitter Inc also advanced in the premarket session, up 2.4 percent to $51.28 after JPMorgan upgraded the social network to "overweight" from "neutral" and raised its price target on the stock by $10 to $64.

"Twitter is a primary beneficiary of the shift toward mobile advertising ... and we are increasingly confident in the company's ability to grow users over time," the firm wrote in a note to clients.

Futures snapshot at 0741 EDT:

* S&P 500 e-minis were up 3 points, or 0.15 percent, with 183,648 contracts changing hands.

* Nasdaq 100 e-minis were gaining 6.25 points, or 0.16 percent, in volume of 29,829 contracts.

* Dow e-minis were up 11 points, or 0.07 percent, with 24,397 contracts changing hands. (Editing by Bernadette Baum)