Below are the stocks making major moves in the premarket, let’s take a look at them:
Spirit Airlines (SAVE) –
SAVE stocks jumped 11.4% in premarket trading after announcing that it would buy Frontier Airlines in a stock swap deal worth $6.6 billion, including assumed debt. Frontier Group (ULCC), Frontier’s parent firm, saw its stock drop by 2.4 percent.
(PTON) Peloton –
Following reports that both Amazon.com (AMZN) and Nike (NKE) are considering bids for Peloton, the fitness equipment maker’s stock soared 28.5 percent higher in premarket trade. The news comes just days after activist investor Blackwells Capital asked Peloton’s board of directors to consider a sale.
Energizer (ENR) –
After announcing better-than-expected quarterly results, the firm best known for its batteries saw its stock surge 5.7% in premarket trade. With a profit of $1.03 per share, Energizer outperformed expectations by 8 cents per share. Revenue also outperformed Wall Street expectations. The current operating climate, according to Energizer, is “extremely volatile.”
Zimmer Biomet (ZBH) –
The developer of orthopedic and other medical devices announced quarterly earnings of $1.95 per share, which fell 3 cents short of average projections. Revenue fell short of analysts’ expectations. The ongoing epidemic continued to put a strain on the company’s business during the quarter. And the shares fell 5.4 percent in premarket trading.
Hasbro (HAS) –
Hasbro rose 2.2 percent in premarket trading. After the toymaker topped top-and bottom-line expectations for the most recent quarter. It made $1.21 per share, much exceeding the consensus forecast of 88 cents per share. The company’s revenue from television, film, and entertainment increased by 61% year over year. Hasbro’s quarterly dividend was also boosted by 3% to 70 cents per share.
Tyson Foods (TSN) –
Following its quarterly earnings announcement, Tyson jumped 4.2 percent in premarket trading. With quarterly earnings of $2.87 per share, the company surpassed expectations by 97 cents a share. The revenue of the meat and poultry producer likewise exceeded analysts’ expectations. By the end of fiscal 2024, Tyson stated it would have saved $1 billion in productivity.
Bumble (BMBL) –
The dating service operator announced the acquisition of Fruitz, a European dating app firm. For an unknown sum, marking Bumble’s first acquisition. Fruitz is very popular among Generation Z customers.
Ford (F) –
It is a brand of automobile manufactured by Ford Motor Company. Ford’s stock dropped 1.1 percent in premarket trading after the company announced it would halt or reduce output at eight of its North American plants due to a global chip shortage. These adjustments will be in place for the remainder of the week.
Spotify (SPOT) –
It is a music streaming service. Spotify CEO Daniel Ek said he strongly condemns podcaster Joe Rogan’s use of racist insults, but that eliminating his show from the Spotify platform is not the solution. In the wake of Rogan’s comments about Covid-19, Spotify has taken down the music of a number of well-known musicians. Spotify’s stock dropped 2%.
Snowflake (SNOW) –
The stock of Snowflake rose 4.8% in premarket trading after Morgan Stanley upgraded it from “equal weight” to “overweight,” saying investors are undervaluing Snowflake’s potential for growth and durability.