US Premarket: Apple, Spirit, Revlon and other stocks making biggest moves

Didi Global (DIDI)

Didi shares surged 64.86% in premarket trading after the
Wall Street Journal reported that China regulators have concluded a year-long
investigation and it is set to revoke the ban on the company from adding new
users.

Also Read | ‘Will never break up entirely,’ What US told Russia about embassy closure

Apple (AAPL)

Apple gained 1.4% in premarket action. The stock is on watch as the company’s annual Worldwide Developers Conference begins. Apple shares have declined 16.9% so far this year amid concerns about a slowdown in demand.

Also Read | Cryptocurrency scams cost Americans over $1 billion in 2021, FTC finds

Keurig Dr Pepper (KDP)

The beverage maker’s stock rallied 7.9% in premarket
action as it will be added to the S&P 500 index prior to the opening of
trading on June 21, along with ON Semiconductor (ON) and real estate investment
trust VICI Properties (VICI). ON Semiconductor rallied in the premarket by 7.2%
and VICI jumped 8.4%.

Also Read | The silent spread of Monkeypox: Skin marks likely confused for STIs

Spirit Airlines (SAVE)

Spirit surged 6.1% in the premarket after JetBlue (JBLU)
sweetened its bid for Spirit. JetBlue will hike its breakup fee for the deal of
$350 million and pay part of that as a dividend if the finalized, increasing
the value to $31.50 per share. Jet Blue shares were unchanged.

Also Read | Why Burger King has been unable to leave Russia after the Ukraine invasion

Revlon (REV)

Revlon added 1.6% in premarket trading. It is in talks
with lenders on pushing back debt payment deadlines as the cosmetics maker
attempts to avoid a bankruptcy filing, reported The Wall Street Journal. The
talks include extending the maturity date on about $1.7 billion in debt that
comes due as early as 2024.

Also Read | Elon Musk promises Tesla headcount increase: What it means

Starbucks (SBUX)

Starbucks surged 1.8% in premarket action. Starbucks is
considering only external candidates to be its Chief Executive Officer, as per
interim CEO Howard Schultz. The company needs to add new talent to its
executive, he told The Wall Street Journal.

Eli Lilly (LLY)

The drugmaker’s shares jumped 1.2% in premarket trading,
after announcing successful results in studies regarding diabetes drugs and
Truclicity and Jardiance.

Also Read | WWII veterans honoured in Normandy on 78th anniversary of D-Day | In Pics

Under Armour (UAA)

Under Armour fell 1.2% in the premarket as the stock is
among those being replaced in the S&P 500 on June 21. Under Armour will
move to the S&P MidCap 400, along with laser maker IPG Photonics (IPGP).