Spirit, Digital World, Coinbase Fall Premarket; AutoZone, Chewy Rise
By Peter Nurse
Investing.com -- Stocks in focus in premarket trade on Monday, June 27. Please refresh for updates.
Spirit Airlines (NYSE: SAVE ) stock fell 5.6% after the carrier said it will accept the latest improved takeover offer from Frontier Group (NASDAQ: ULCC ), down 1.8%, which is below the bid from rival discount airline JetBlue (NASDAQ: JBLU ), up 1.2%.
Nike (NYSE: NKE ) stock rose 1% ahead of the athletic footwear retailer’s fourth-quarter results, due after the close, a few days after it announced plans to make a full exit from Russia.
BioNTech (NASDAQ: BNTX ) stock rose 2.4% after the drug maker said a booster dose of updated versions of its COVID-19 vaccine, developed with Pfizer (NYSE: PFE ), up 0.3%, generated a higher immune response against the Omicron variant.
McDonald’s (NYSE: MCD ) stock rose 0.2% after the burger giant announced that Ian Borden, president of its international business, would take over as chief financial officer, with the current finance head Kevin Ozan moving to lead the company's strategic initiatives.
Digital World Acquisition Corp (NASDAQ: DWAC ) stock fell 10.5% after the special purpose acquisition company disclosed each director on its board had been issued subpoenas seeking more information on its deal with former U.S. President Donald Trump's social media firm.
Coinbase (NASDAQ: COIN ) stock fell 4.9% after Goldman Sachs downgraded its stance on the cryptocurrency exchange to ‘sell’ from ‘neutral’ as the sell-off in the prices of digital currencies continues to put pressure on the platform.
AutoZone (NYSE: AZO ) stock rose 2.9% after Goldman upgraded its stance on the retailer of automotive parts to ‘buy’ from ‘neutral’, saying it is “defensively positioned” to weather inflation.
Robinhood (NASDAQ: HOOD ) stock rose 2.5% after Goldman upgraded its stance on the online brokerage to ‘neutral’ from ‘sell’, seeing a more balanced risk-reward basis as the stock has underperformed significantly of late.
Chewy (NYSE: CHWY ) stock rose 4.8% after Needham upgraded its stance on the pet retailer to ‘buy’ from ‘hold’, saying it’s due a comeback after falling around 35% this year.
Add Chart to Comment
We encourage you to use comments to engage with users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:
- Enrich the conversation
- Stay focused and on track. Only post material that’s relevant to the topic being discussed.
- Be respectful. Even negative opinions can be framed positively and diplomatically.
- Use standard writing style. Include punctuation and upper and lower cases.
- NOTE: Spam and/or promotional messages and links within a comment will be removed
- Avoid profanity, slander or personal attacks directed at an author or another user.
- Don’t Monopolize the Conversation. We appreciate passion and conviction, but we also believe strongly in giving everyone a chance to air their thoughts. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
- Only English comments will be allowed.
Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.
Drop an image here or Supported formats: *.jpg, *.png, *.gif up to 5mb
Drop an image here or