Stock Groups

Spirit Airlines, Peloton, Energizer and more

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Here are some top movers of the premarket.

Spirit Airlines (SAVE) – Spirit surged 11.4% in the premarket after announcing it would buy competitor Frontier AirlinesA stock swap transaction valued at $6.6 trillion including assumed debt. Frontier shares Frontier Group (ULCC) fell 2.4%.

Peloton (PTON) – Peloton rocketed 28.5% higherFollowing reports that both were involved in the premarket trades, Amazon.com(AMZN). NikeThe fitness equipment manufacturer is being considered by (NKE). This comes just days after Blackwells Capital, an activist investor in the fitness equipment maker, urged Peloton to sell it.

Energizer (ENR) – The company best known for its batteries saw its stock surge 5.7% in premarket trading after reporting better-than-expected quarterly results. Energizer posted a profit per share of $1.03, beating estimates by 8cs. Wall Street predictions were also exceeded by revenues. Energizer stated that the present operating environment was “very volatile”.

Zimmer Biomet (ZBH) – The maker of orthopedic and other medical products reported quarterly earnings of $1.95 per share, missing consensus estimates by 3 cents a share. The revenue came in below analysts’ expectations. Premarket stock dropped 5.4% due to continued pandemic pressures.

Hasbro (HAS) – Hasbro added 2.2% in premarket trading after the toymaker beat top- and bottom-line estimates for its latest quarter. Hasbro reported a profit of $1.21 per share. This is well beyond the consensus estimate at 88 cents per share. Its television, film and entertainment revenue grew 61% over a previous year. Hasbro increased its quarterly dividend to 70c per Share by increasing it by 3%

Tyson Foods (TSN) – Tyson rallied 4.2% in the premarket following its quarterly earnings report. Quarterly earnings of $2.87 per shared beat all expectations. Analyst forecasts also came in under the expectations of this beef- and poultry producer. Tyson stated that it is on track for $1 billion productivity savings by fiscal 2024.

Bumble (BMBL) – The dating service operator announced the acquisition of European dating app company FruitzBumble has completed its first acquisition for an undisclosed sum. Fruitz is a favorite among Gen Z.

Ford (F) – Ford fell 1.1% in premarket action after announcing it will suspend or cut production at eight of its North American factories due to the global semiconductor shortage. These changes will take effect for the remainder of this week.

Spotify (SPOT) – Spotify CEO Daniel Ek said he strongly condemns racial slursJoe Rogan used the podcast, however he said that removing the podcast from Spotify is not an option. Many popular musicians have seen their Spotify playlists removed by Spotify due to controversy around Rogan’s comments about Covid-19. Spotify shares dropped 2% in premarket.

Snowflake (SNOW) – The cloud data platform provider’s stock rallied 4.8% in the premarket after Morgan Stanley upgraded it to “overweight” from “equal-weight,” saying investors are undervaluing Snowflake’s potential for durability and quality of growth.

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