Hot Stocks: TSLA deliveries; ESCA, ODP rise on M&A; BABA investors switching to Hong Kong
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Tesla (NASDAQ:TSLA) represented the main headliner as Wall Street prepared to kick off 2022, rising in pre-market trading on Monday following the release of production and delivery figures.
Meanwhile, M&A news provided another major theme of the morning. Escalade (NASDAQ:ESCA) rose on word of a purchase, while the sale of a subsidiary gave a lift to The ODP Corp. (NASDAQ:ODP).

Turning to the downside, Alibaba (NYSE:BABA) experienced selling pressure in pre-market action on rising worries that it might abandon trading in the U.S. in favor of Hong Kong.

Gainers

Tesla (TSLA) jumped more than 7% in pre-market trading after announcing strong delivery and production numbers. Elon Musk's EV maker delivered more than 308K vehicles in Q4, bringing 2021's total to more than 936K. The company also produced about 306K vehicles during the last quarter of the year.
News of an acquisition sent Escalade (ESCA) higher in pre-market action. The company announced a deal to purchase billiard table maker Brunswick Billiards from Life Fitness. On the news, shares advanced about 3%.
The ODP Corp. (ODP) also rallied 3% before the opening bell on M&A headlines. The company has agreed to sell its CompuCom Systems subsidiary to an affiliate of Variant Equity. The deal is valued at up to $305M.
ODP also revealed that it has authorized a $200M increase of its stock repurchase plan. The program now has a total value of $650M.


Decliner

Alibaba (BABA) edged lower in pre-market action on data indicating that investors have been converting U.S.-listed ADRs into Hong Kong shares. The news comes amid concerns that China-based firms will delist from the U.S.
To track Wall Street's biggest winners and losers throughout the session, turn to SA's On The Move section.