Premarket movers: Twitter, Spirit Airlines, Tilray and others
Check out the companies making headlines before the bell:
Twitter's premarket trading saw a 1.5% decline, potentially ending a three-day winning streak that resulted in a nearly 32% gain. Elon Musk, now Twitter's largest shareholder, altered the type of SEC filing regarding his share purchase to indicate it was not "passive."
Spirit Airlines' board will consider a new $3.6 billion cash takeover offer from JetBlue Airways, after previously agreeing to be bought by Frontier Airlines parent for $2.9 billion in cash and stock.
Tilray's unexpected profit in the latest quarter, despite revenue falling below analyst estimates, led to a 2.1% rise in the premarket. Additionally, the cannabis producer announced a partnership with Whole Foods to sell hemp powders produced by its Manitoba Harvest subsidiary.
Rivian's premarket shares increased by 1.7% after the company announced it was on track to meet its 25,000 electric vehicle production target for the year.
Occidental's shares gained 1.7% in premarket trading after Stifel Financial initiated coverage with a "buy" rating. Stifel highlighted the company's low carbon business as an underappreciated aspect of its attractively priced stock, despite its nearly doubling in value so far this year.
Intel has halted its business operations in Russia after suspending semiconductor shipments to customers in Russia and Belarus last month. Intel's stock price fell 1.1% in premarket trading.
The aviation industry broadband provider's stock surged 10.4% in premarket trading after being announced as joining the S&P SmallCap 600 index prior to Friday's open.
The renewable energy equipment manufacturer, Array Technologies, experienced a 14.5% increase in the premarket after reporting better-than-expected quarterly revenue and issuing an optimistic revenue forecast. Additionally, the company announced the appointment of Kevin Hostetler as its new CEO, effective April 18, replacing the retiring Jim Fusaro.
The company that produces healthy foods and snacks announced higher-than-anticipated earnings and revenue for the most recent quarter and increased its sales projections for the present year.
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