Latest News

Stocks making the biggest moves premarket: Spirit Airlines, BioNTech, Robinhood and more

0

In this article

MO

COIN

HOOD

DWAC

BNTX

SAVE

Check out the companies making headlines before the bell:

Spirit Airlines (SAVE) – Spirit Airlines lost 4.7% in the premarket after saying it would accept the latest improved takeover bid from Frontier Group (ULCC). The latest Frontier cash-and-stock bid is valued at $2.7 billion based on Friday’s closing prices, while the most recent JetBlue (JBLU) all-cash offer is worth $3.7 billion. Spirit believes it is unlikely regulators would approve a combination with JetBlue, a notion that JetBlue has disputed. Frontier lost 1.7% while JetBlue was unchanged.

BioNTech (BNTX) – BioNTech added 2.1% in premarket trading after the drug maker and partner Pfizer (PFE) said their omicron-based Covid-19 booster shots generated an improved immune response against the variant.

Robinhood Markets (HOOD) – Robinhood rose 2.5% in premarket action after Goldman Sachs upgraded the trading platform operator’s stock to “neutral” from “sell” although it cut the price target to $9.50 per share from $11.50. The rise comes despite the release of a Congressional report detailing the trading platform’s difficulties in handling the meme stock frenzy of January 2021.

Digital World Acquisition (DWAC) – In an SEC filing, the SPAC linked to former President Donald Trump’s media company said additional subpoenas were issued in an ongoing probe of its registration statement regarding the proposed business combination. Digital World said the investigation could materially impede, delay or even prevent the combination from being consummated. The stock slid 5.8% in the premarket.

Coinbase (COIN) – The cryptocurrency exchange operator saw its stock slide 5.3% in the premarket after Goldman downgraded it to “sell” from “neutral,” pointing to the continued fall in crypto prices and slower industry activity levels.

Altria (MO) – Altria rose 1% in the premarket after Juul won a temporary stay of the FDA ban on its e-cigarette products. Altria holds a 35% stake in Juul.

Newmark Group (NMRK) – The commercial real estate firm’s shares rose 1.6% in the premarket after the New York Post reported on increasing talk of a possible merger between Newmark and rival Cushman & Wakefield.

Walgreens (WBA) – India-based conglomerate Reliance Industries is reportedly in talks with global lenders to raise $8 billion to finance the purchase of Walgreens’ Boots drugstore chain. Walgreens added 1% in premarket trading.

Chewy (CHWY) – Chewy jumped 4.1% in premarket action after Needham upgraded it to “buy” from “hold,” saying that price increases for the pet products retailer are sticking and that supply chain issues are improving.

AutoZone (AZO) – The auto parts retailer was upgraded to “buy” from “neutral” at Goldman Sachs, which called it a good defensive play as the vast majority of auto parts sales are non-discretionary and demand remains relatively inelastic. The stock gained 1.9% in the premarket.

Etsy shares will remain under pressure even after 60% pullback this year, Needham says

Previous article

Wall Street layoffs likely ahead as two-year hiring boom turns to bust

Next article

You may also like

Comments

Leave a reply

Your email address will not be published.

More in Latest News