Home > Business > US Premarket: Nike, Spirit, Roivant and other stocks making biggest moves
opoyicentral
Opoyi Business

2 years ago .

US Premarket: Nike, Spirit, Roivant and other stocks making biggest moves

  • Nike shares fell 2.4% despite reporting higher-than-expected quarterly profit and revenue
  • Spirit jumped 4% as the race to buy the airline intensifies
  • Roivant Sciences jumped 7.9% after it launched Priovant Therapeutics

Written by:Devanshu
Published: June 28, 2022 02:11:01

Nike (NKE)

Nike shares fell 2.4% in the premarket despite reporting higher-than-expected quarterly profit and revenue. The athletic apparel and footwear maker forecasts current-quarter revenue below analysts’ estimates amid increased promotional activity and ongoing disruptions in its profitable Chia market.

Also Read | Twitch, Pinterest, UPS fined by Russia over data storage row

Spirit Airlines (SAVE)

Spirit jumped 4% in premarket trading as the race to buy the airline intensifies. Jet Blue (JBLU) responded to Frontier Group’s (ULCC) latest improved offer by sweetening its own bid, adding a monthly pre-payment of 10 cents per share between January 2023 and the deal’s adding a monthly pre-payment of 10 cents per share between January 2023 and the deal’s close and a $50 million breakup fee rose to $400 million and a $2.50 per share payment when the deal is approved. Frontier added 2.7%, while JetBlue edged slipped by 0.3%.

Also Read | Mukesh Ambani resigns as Director of Reliance Jio, son Akash named chairman

Roivant Sciences (ROIV)

The biopharmaceutical company’s shares jumped 7.9% in the premarket after it launched a new biotech company called Priovant Therapeutics in partnership with Pfizer (PFE). Pfizer will hold a 25% stake in Priovant, which will focus on novel therapies for autoimmune diseases.

Also Read | NTSB sending team to investigate Amtrak derailment: Everything to know

Morgan Stanley (MS), Goldman Sachs (GS), Bank of America (BAC), and Wells Fargo (WFC)

These banks increased their dividends after passing their annual stress tests, but JPMorgan Chase (JPM) and Citigroup (C) kept their payouts unchanged. Morgan Stanley surged 3.3% in premarket action, Goldman added 1.7%, Bank of America jumped 1.1% and Wells Fargo surged 0.7%.

Also Read | US pharma retailers ration contraceptive pills after Roe v Wade overturned

Occidental Petroleum (OXY)

The stock surged 4% in premarket trading after Berkshire Hathaway (BRK.B) revealed additional purchases of Occidental Petroleum shares, increasing its stake to 16.4%.

Also Read | Why US President Joe Biden’s wife, daughter are banned from Russia

Jefferies Financial (JEF)

Jefferies fell 4.4% in premarket action after reporting a lower-than-expected quarterly profit. However, the investment firm’s revenue did exceed estimates. Revenue fell 30% from the year-ago period amid what Jefferies calls a “challenging” capital markets environment.

Also Read Poor nation’s pricey mess: Why Zimbabwe hiked interest rate by 200%

Robinhood Markets (HOOD)

Robinhood slipped 3.7% in premarket trading after FTX CEO Sam Bankman-Fried declined Bloomberg report that FTX might be interested in buying the trading platform company. Bankman-Fried told CNBC that although he is impressed by Robinhood and has been excited about potential partnerships, there are no active M&A talks taking place.

Also Read | What Elon musk’s birthday says about him

Playtika (PLTK)

Shares of the Israel-based mobile game developer surge 3.2% in premarket trading following an Axios report that Joffre Capital was buying a majority stake.

Also Read | US primaries: Why New York will have a two-phase election

Snowflake (SNOW)

Snowflake jumped 3.4% in premarket trading after Jefferies upgraded the cloud computing company’s stock to “buy” from “hold”. Jefferies outlined Snowflake’s growth potential and noted its “rock solid” fundamentals and “near flawless” execution. Snowflake had added more than 32% during a five-session win streak before retreating 2.2% yesterday.

Related Articles

ADVERTISEMENT

© Copyright 2023 Opoyi Private Limited. All rights reserved