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U.S. stock futures traded slightly higher in early pre-market trade after the Dow Jones jumped around 140 points in the previous session following the release of jobs data.

Market Snapshot

At 8:30 a.m. ET, Dow e-minis were up 20 points, or 0.06%, S&P 500 e-minis were up 7.75 points, or 0.17%, and Nasdaq 100 e-minis were up 41.5 points, or 0.28%.

Pre-Market Movers

Twitter(TWTR) – Twitter shares soared 26.1% in the premarket after a Securities and Exchange Commission filing showed that Tesla CEOElon Muskhad takena 9.2% passive stake in Twitter.

Tesla(TSLA) – Tesladelivered just over 310,000 vehiclesduring the first quarter, a record for the electric vehicle maker but below Wall Street consensus estimates. Tesla gained 1% in premarket trading.

Starbucks(SBUX) – Starbucks has suspended its share repurchase program, in a move it says will allow it to invest in future growth for the coffee chain. The move comes as Howard Schultz returns for a third stint as CEO, replacing the retiring Kevin Johnson. Starbucks fell 2.3% in premarket action

JPMorgan Chase(JPM) – In hisannual letter to shareholders, CEO Jamie Dimon said the bank could face a potential loss of $1 billion from its exposure to Russian investments.

JD.com(JD),Netease(NTES),Alibaba(BABA),Tencent Music(TME) – U.S.-listed China stocks are rallying in premarket trading after China proposed revising confidentiality rules regarding audit oversight. That could remove an obstacle to U.S.-China cooperation and prevent those companies from being delisted in the U.S. JD.com jumped 5.1%, Netease rose 3.9%, Alibaba gained 4.3% and Tencent Music added 5.2%.

Hertz(HTZ) – The car rental company announced a new partnership that will see Hertz buy up to 65,000 electric vehicles from electric vehicle maker Polestar over the next five years. Hertz gained 2.3% in the premarket.

Novartis(NVS) – Novartis announced a reorganization of its business units in a move the Swiss drugmaker could save at least $1 billion annually by 2024. The new structure will integrate the drugmaker’s pharmaceuticals and oncology businesses. Novartis rose 1% in premarket trading.

General Motors(GM) – Canada will announce investments today in two GM plants in the country, according to a source who spoke to Reuters. The amount of the investments, which includes support for one plant that will produce electric commercial vehicles, is unknown.

Logitech(LOGI) – Logitech was upgraded to “buy” from “neutral” at Goldman Sachs, which is encouraged by the recent strong financial performance for the maker of computer mice, keyboards and other computer peripheral devices. Logitech jumped 4.3% in the premarket.

Crox(CROX) – The casual shoe maker’s stock slid 1.9% in premarket trading after Loop Capital downgraded it to “hold” from “buy” and slashed the price target to $80 from $150. Loop said investor sentiment on the stock has shifted, putting it in the “COVID winner” category.

Market News

ExxonMobil Ditches Russia Following Western Sanctions

Exxon Mobil Corp suspended its liquefied natural gas project in Russia’s Far East following Western sanctions.

Exxon would pull out of managing extensive oil and gas production facilities on Sakhalin Island in Russia’s Far East, putting the proposed multi-billion dollar LNG facility there in doubt.

Starbucks Suspends Buyback To Focus On Investing In Operations; Schultz Takes Helm

Starbucks Corporation said it would suspend its stock repurchasing program effectively immediately in order to focus on investing in the workforce and more stores.

The company’s founder, Howard Schultz, returned as chief executive officer and board director after Kevin Johnson announced his retirement.

Electric Vehicle Dreams Remain Vulnerable To Surging Battery Prices

Russia’s Ukraine invasion has jeopardized the car industry’s multibillion-dollar bet on cheaper electric vehicle batteries, rendering them unprofitable and uncompetitive.

Global demand played a crucial role in driving the prices of critical raw materials for EV battery manufacturing nickel, lithium, and cobalt.

But with Russia accounting for 11% of the world’s nickel and supply chains already stretched, the war has sent the cost of such commodities skyrocketing.

Elon Musk Acquires 9.2% Stake In Twitter

Tesla Inc. CEO Elon Musk has acquired a 9.2% stake in social media company Twitter Inc. TWTR +0%, a 13G SEC filing from the latter revealed early Monday.

Musk has bought 73,486,938 shares in Twitter, with sole voting power, according to the SEC filing. The stake is worth $2.89 billion, considering Twitter’s last closing price of $39.31.

Twitter shares jumped 29% in the pre-market session on Monday to $51.02 at the time of writing, as per data from Benzinga Pro. Tesla shares traded 1% higher at $1,096.