US Premarket: Coinbase, Uber, Altria and other stocks making biggest moves

Coinbase Global (COIN)

Coinbase slipped 3.35 in premarket action after it was
downgraded to “neutral” from “overweight” at Atlantic Equities. It cited a
number of factors including questions about the cryptocurrency exchange
operator’s ability to attract talent.

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Uber (UBER), DoorDash (DASH)

In premarket trading, Uber slipped 3.1% and DoorDash plunged 7.5% after the news that Amazon (AMZN) struck a deal to add membership in
rival food delivery service Grubhub as a free benefit for its “Prime” members.
Amazon’s deal also gives it the option to take a stake in Grubhub.

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Resolute Forest Products (RFP)

Share of the paper and wood products maker soared 66.8% in
the premarket after it agreed to be bought by Montreal-based paper products
producer Paper Excellence Group for $20.50 per share, plus a contingent value
right.

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Altria (MO)

Altria shares added 2.7% in premarket trading after the FDA
temporarily suspended its ban on Juul e-cigarette products. Altria owns a 355
stake in Juul, which will be allowed to keep its products on the market while
it appeals to the FDA’s ban.

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Rocket Companies (RKT)

Rocket Companies surged 4.4% in premarket action after Well
Fargo Securities upgraded the fintech firm’s stock to “overweight” from “equal
weight”. Rocket shares have declined around 41% so far this year.

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Kornit Digital (KRNT)

Shares of Israel-based developers of digital printing
technologies for the apparel industry tumbled 24.3% in premarket trading. This
comes after Kornit slashed its current-quarter guidance almost in half and said
the third quarter may see a similar slowdown, due to a pullback in e-commerce
following the pandemic-induced boost.

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Spirit Airlines (SAVE)

The stock added 0.04% in the premarket after it won the
right to operate peak-hour afternoon and evening flights at Newark-Liberty
International Airport. Spirit had been trying to win the slots that Southwest
Airlines (LUV) vacated when it stopped operating in Newark in 2019, but the FAA
initially opted not to award them while it assessed traffic conditions at the airport.