These stocks are Tuesday’s biggest pre-market movers

Using TipRanks’ Top Stock Gainers/Losers tool, we’ve compiled a list of Tuesday’s biggest pre-market stock movers, which are as follows:

Five biggest movers

Avid Technology Inc. (NASDAQ:AVID) topped the list on Tuesday, rising nearly 9% at the time of writing. The jump follows the announcement that the Massachusetts-based company will join the S&P SmallCap 600 index from September 1. When a new stock is added to an index, all exchange-traded funds that track that index invest in it.

Shares of outdoor cooking product manufacturer Weber Inc. (NYSE:WEBR) traded 7.4% higher in early trading on Tuesday, after closing 5.6% higher on Monday. While there is no company-specific news to explain the uptick, the stock appears to have risen as a result of the recent meme stock frenzy.

Next on the list is China-based educational services provider New Oriental Education & Tech Group Inc. (NYSE:EDU), which rose 6.4% before the bell. The stock is on the rise after the Chinese government increased its economic stimulus package by a trillion Chinese yuan (or $146 billion) last week.

Another Chinese company, TAL Education Group (NYSE:TAL) was trading 6.4% higher in the pre-market session on Tuesday. According to analysts at Goldman Sachs (NYSE:GS), the agreement reduces the chances of Chinese stocks being pulled from the US from 95% to 50%.

Finally, shares of Spirit AeroSystems Holdings, Inc. (NYSE:SPR), an aircraft construction manufacturer, climbed 6.2% before the market opened. The stock rose after news that United Parcel Service (NYSE:UPS) ordered eight Boeings (NYSE:BA) 767 cargo aircraft. Since Spirit AeroSystems produces the forward fuselage structure of these jets, the $1.7 billion deal means additional work for the company, which is based in Wichita, Kansas.

Keep an eye on this space for potential volatility when the market opens. Tomorrow we will have another up-to-date piece in stock Pre-Market Movers…

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