Premarket movers: Mag 7 stocks are all higher (Tesla +1%, Amazon +0.6%, Nvidia +0.5%, Microsoft +0.4%, Meta Platforms +0.3%, Apple +0.2%, Alphabet +0.1%). Avidity Biosciences (RNA) plunges 19% after offering 500 million in shares, planning to use some of the proceeds to advance clinical programs. Ecovyst Inc. (ECVT) climbs 8% after Technip Energies NV agreed to buy the company’s advanced materials & catalysts business. Opendoor Technologies Inc. (OPEN) shares soar 36% after the company said co-founders Keith Rabois and Eric Wu will rejoin the board and named Shopify’s Kaz Nejatian as chief executive officer. Oxford Industries (OXM) jumps 18% after the Tommy Bahama owner posted second-quarter profit that beat expectations. Red Cat Holdings (RCAT) rises 9% after the drone company said its Black Widow System has been approved and added to the NATO Support and Procurement Agency catalog. Revolution Medicines (RVMD) gains 9% after the company reported updates from Phase 1 trials of daraxonrasib in pancreatic cancer.(zerohedge)