Stocks making the biggest moves premarket: Twitter, Spirit Airlines, Tilray and more
Check out the companies making headlines before the bell:
Twitter (TWTR) – Twitter fell 1.5% in premarket trading, potentially breaking a three-day win streak that has seen it gain nearly 32%. Elon Musk – now Twitter’s largest shareholder – changed the type of SEC filing regarding his share purchase to show it was not “passive.”
Spirit Airlines (SAVE) – Spirit said its board will consider a new $3.6 billion cash takeover offer from JetBlue (JBLU). Spirit had agreed in February to be bought by Frontier Airlines parent Frontier Group (ULCC) for $2.9 billion in cash and stock. Spirit slid 2.8% in the premarket, with JetBlue dropping 3.7% and Frontier falling 3.9%.
Tilray (TLRY) – Tilray rose 2.1% in the premarket after reporting an unexpected profit for its latest quarter, even as revenue fell below analyst estimates. The cannabis producer also announced a deal with supermarket chain Whole Foods, which will sell the hemp powders produced by Tilray’s Manitoba Harvest subsidiary.
Rivian (RIVN) – Rivian shares gained 1.7% in the premarket after the company said it was on pace to achieve its previously stated production target of 25,000 electric vehicles this year.
Occidental Petroleum (OXY) – The energy producer’s shares added 1.7% in premarket action after Stifel Financial began coverage with a “buy” rating. Stifel said Occidental remains attractively priced even after it nearly doubled so far this year, noting a largely underappreciated low carbon business.
Intel (INTC) – Intel announced it suspended business operations in Russia, following last month’s suspension of semiconductor shipments to customers in Russia and Belarus. Intel fell 1.1% in premarket trading.
Gogo (GOGO) – Gogo surged 10.4% in premarket trading after the aviation industry broadband provider announced its stock would join the S&P SmallCap 600 index prior to Friday’s open.
Array Technologies (ARRY) – Array Technologies rallied 14.5% in the premarket after the renewal energy equipment maker reported better-than-expected quarterly revenue and issued an upbeat revenue outlook. It also named Kevin Hostetler as its new CEO, effective April 18, replacing the retiring Jim Fusaro.
Simply Good Foods (SMPL) – The maker of nutritional foods and snacks reported better-than-expected profit and revenue for its latest quarter and raised its sales forecast for the current year.