Today's Pre-Market Stock Movers: FDX, COIN, RIVN, EXAS, and More

$Coinbase(COIN.US)$ +2.38% (The crypto exchange stock climbed in premarket trading, seemingly aided by the surge in bitcoin's 7.8% climb. Coinbase has faced a multiple headwinds recently, from an ongoing spat with the U.S. Securities and Exchange Commission to BlackRock's launch of its own bitcoin exchange-traded fund.)

$MicroStrategy(MSTR.US)$ +2.58% (Shares have climbed more than 121% so far in 2023 and 8.7% over the past month.)

$Tesla(TSLA.US)$ +0.56% ( Barclays downgrades Tesla to equalweight from overweight. The bank warned investors that it may be prudent to "to move to the sidelines" after its recent rally. Tesla shares are up more than 52% over the past month.)

$Spotify Technology(SPOT.US)$ +1.91% (Wolfe Research upgraded Spotify to outperform from peer perform. Price increases and growth in advertising should help Spotify grow its revenue, according to Wolfe.)

$Rivian Automotive(RIVN.US)$ +1.34% (A day earlier, the company announced that its customers would have access to Tesla's network of charging stations starting next year.)

$Exact Sciences(EXAS.US)$ +6% (The company reached agreements with The MIT and Harvard Broad Institute to exclusively use the company's molecular residual disease diagnostic testing platform.)

$FedEx(FDX.US)$ -2.96% (The company notched an earning beat with an adjusted $4.94 per share against a Refinitiv consensus estimate of $4.89 per share. However, revenue came in below expectations at $21.93 billion. FedEx executives also provided roughly flat revenue guidance, and said chief financial officer Mike Lenz would retire on July 31.)