UBER - Hot Stocks: UBER slips on plans to scale back spending; ENR rises on earnings; INTC delays product; NVS downgrade

Uber (NYSE:UBER) added to the pessimistic vibe that has gripped Wall Street in recent weeks, falling in Monday's pre-market trading on reports that it plans to scale back spending and hiring. Intel (INTC) also suffered a setback amid reports that it will have to delay a key product. At the same time, Novartis (NVS) came under scrutiny following an analyst's downgrade. On the upside, Energizer (ENR) gained ground before the opening bell. Shares advanced after the battery maker revealed better-than-expected quarterly earnings. Decliners Uber (UBER) lost ground in pre-market action after it revealed plans to cut back on marketing spending and pull back on its hiring. Shares dropped almost 3% on the news. According to CNBC, UBER CEO Dara Khosrowshahi told staff in an email that the market "is experiencing a seismic shift and we need to react accordingly." The chief executive also outlined a program to "be even more

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Hot Stocks: UBER slips on plans to scale back spending; ENR rises on earnings; INTC delays product; NVS downgrade