Tuesday’s Premarket Stock Moves: Alibaba, Lyft, Walgreens, First Republic Bank
Alibaba's ($BABA@China) shares surged 9.8 percent after the e-commerce giant announced that it was splitting its company into six separate business groups with the potential for each to go public. Lyft ($LYFT@US) shares rose 5 percent in premarket trading after announcing that cofounders and CEO Logan Green and President John Zimmer will step down, with former Amazon ($AMZN@US) executive David Risher taking their place. Walgreens Boots Alliance rose 1.7 percent after the pharmacy chain posted better-than-expected fiscal second-quarter results. First Republic Bank ($FRC@US) rose 3.6 percent, continuing on Monday’s rally.