Spirit Airlines, Carvana, Warby Parker and more
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Check out these premarket movers:
Spirit Airlines (SAVE) – Spirit Airlines surged 19.3% in premarket trading after JetBlue (JBLU) launched a $30 per share tender offerIts rival airline. Spirit, which had previously rejected JetBlue’s prior offer, preferred to maintain a previously approved merger with Frontier Airlines parent. Frontier Group (ULCC). Frontier shares increased 5.5% and JetBlue decreased 0.6%
Carvana (CVNA) – Carvana shares rallied 13.3% in premarket action after the used car retailer forecast significant core earnings for 2023. Carvana’s plans to reduce costs were also described in a Securities and Exchange Commission filing.
Warby Parker (WRBY) – The eyewear retailer’s stock slipped 3.8% in the premarket after the company reported an unexpected quarterly loss as well as revenue that came in slightly below forecasts. Warby Parker issued a revised full-year outlook.
Twitter (TWTR) – Twitter fell 2% in the premarket, amid speculation about whether Elon Musk will complete his takeover deal for the social media platform. Musk posted over the weekend, that Twitter’s lawyers informed him that he had broken a nondisclosure agreement. They revealed sample sizes Twitter uses when it analyses spam accounts.
Netflix (NFLX) – Netflix added 1.8% in premarket trading after Wedbush upgraded the stock to “outperform” from “neutral.” According to the firm, Netflix believes it is now in a position to grow again thanks its staggered releases of series like “Ozark”, “Stranger Things”, and “Ozark”.
Rivian (RIVN) – Ford MotorAn SEC filing indicates that (F), sold an additional 7 million shares in the electric car maker. Ford’s stake in the electric vehicle maker has been left at 9.7% after the 8 million share sale last week. Rivian suffered a 1.1% loss in premarket trading.
SoFi (SOFI) – The fintech firm’s shares rallied 4.2% in the premarket after Piper Sandler upgraded it to “overweight” from “neutral.” SoFi’s growth will be aided by rapid deposits growth, the expiration the student loan moratorium, and increased revenue in financial services.
ManTech International (MANT) – Carlyle GroupPeople familiar with ManTech’s situation told Bloomberg that the (CG), is closing in on a nearly $4 billion acquisition of the defense contractor. The deal could be finalized as early as next week, according to Bloomberg sources.
Trade Desk (TTD) – The programmatic advertising company’s stock added 3.3% in premarket trading after Stifel Financial upgraded it to “buy” from “hold” and increased its price target to $80 per share from $50 a share. Stifel indicated that The Trade Desk will be able to benefit from additional ad-supported Netflix and Disney+ versions.
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