Twitter (TWTR)

Twitter stock slipped 2% in premarket action amid concerns that whether Elon Musk will complete his takeover deal for the social media platform. Musk tweeted over the weekend that Twitter’s lawyers told him he had violated a non-disclosure agreement by revealing sample sizes used by Twitter when it analyzes spam accounts.

Carvana (CVNA)

Carvana shares gained 13.3% in the premarket trading
after the used car retailer projected significant core earnings for 2023. In a
Securities and Exchange Commission (SEC) filing, Carvana also disclosed its
plans to cut costs.

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Warby Parker (WRBY)

Shares of the eyewear retailer fell 3.8% in premarket
trading after the company reported an unexpected quarterly loss and revenue
that came in marginally below forecasts. Warby Parker reiterated its prior
full-year outlook.

SoFi (SOFI)

Shares of the fintech firm surged 2.4% in the premarket after Piper Sandler upgraded it to “overweight” from neutral. The firm said SoFi will benefit from rapid growth in deposits, the expiration of the student loan moratorium and revenue growth in financial services.

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Spirit Airlines (SAVE)

Shares of Spirit airlines surged 19.3% in the premarket after JetBlue (JBLU) launched a $30 per share tender offer for its rival airline. Spirit had rejected an earlier bid by JetBlue, preferring to keep a previously struck deal to merge with Frontier Airlines parent Frontier Group (ULCC). Frontier shares rose 5.5% while JetBlue slipped 0.6%.

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Netflix (NFLX)

Netflix rose 1.8% in the premarket after Wedbush upgraded
the stock to “outperform” from “neutral”. The company said the staggered
release of shows like “Ozark” and “Stranger Things” will help reduce churn and
that it believes Netflix is once again positioned to grow.

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Rivian (RIVN)

Rivian fell 1.1% in premarket trading after Ford Motor
(F) sold another 7 million shares of the electric vehicle maker, showed an SEC
filing. This comes after the sale of 8 million shares last week, with the two
sales leaving Ford with a 9.7% stake.