See the companies making headlines in premarket trading. Li Auto, Tesla – Electric vehicle makers fell more than 7% and 3% respectively, following price cut announcements. Tesla has cut the sticker price of its Model 3 in China, on top of declines in other markets, Reuters reported. Li lowered the price tags of many models, including the recently launched MEGA SUV. U.S. shares of Chinese electric vehicle makers Nio and Xpeng fell more than 2% at the same time. Verizon – The telecommunications giant traded 1.5% higher as earnings per share came in higher than expected. Verizon earned $1.15 per share in the first quarter, excluding items, three cents above the consensus forecast of analysts polled by FactSet. However, the New York-based company posted revenues of $33 billion, slightly less than the $33.32 billion figure outlined by Wall Street. Verizon also reaffirmed its full-year guidance on several measures. Riot Platforms – The bitcoin miner rose 5.9% thanks to JPMorgan Chase, which reiterated its overweight rating. JPMorgan said it felt good about Riot's position as the bitcoin leader during the company's analyst day. The call also follows the cryptocurrency's fourth-ever halving event on Friday. Crypto Stocks – In addition to Riot, several other bitcoin-related names followed suit after the halving. Coinbase rose 2.2%, while Marathon Digital and Microstrategy rose more than 4% each. Alcoa – The aluminum company added 1.2% after Morgan Stanley upgraded the shares from underweight to equal weight. Morgan Stanley cited a better risk-reward backdrop, an improvement in profitability and more potential benefits from the Inflation Reduction Act. Block – Shares rose 0.7% after Bank of America reiterated its buy rating on the financial services stocks. The bank believes Block is currently trading at an attractive valuation, following its 9% decline since the start of the year, and that “significant multiple expansion” lies ahead. Euronet Worldwide – Financial technology shares rose 1.7% after Citi upgraded to buying from neutral. Although shares have fallen in recent months, the company is confident that Euronet can meet or even exceed the high end of its earnings forecast. Hut 8 – Shares rose 2.6% after Benchmark approached the data center operator with a buy rating, citing Hut 8's diversified business model and its extensive bitcoin holdings. The company's $12 price target implies an upside of about 50% from Friday's closing price. — CNBC's Lisa Kailai Han, Hakyung Kim and Sarah Min contributed reporting