Take a look at some of the largest manufacturers in the premarket:
Spirit Airlines (SAVE) – Spirit rose 11.4 percent in the premarket after announcing it would buy rival Frontier Airlines in a $ 6.6 billion share swap deal, including debt. Shares of the parent company of the Frontier Frontier Group (ULCC) fell 2.4%.
Peloton (PTON) – Peloton rose 28.5% higher in pre-market trade after reports that Amazon.com (AMZN) and Nike (NKE) were considering possible offers for the fitness equipment maker. The reports come days after activist investor Blackwells Capital called on Peloton’s board to consider selling the company.
Energizer (ENR) – The company best known for its batteries, jumped 5.7% in pre-market trading after reporting better-than-expected quarterly results. Energizer surpassed estimates by 8 cents a share, earning $ 1.03 per share. Revenues also exceeded Wall Street forecasts. Energizer warned that the current work environment remains “very unstable”.
Zimmer Biomet (ZBH) – The manufacturer of orthopedic and other medical products reported a quarterly earnings of $ 1.95 per share, lacking consensus estimates of 3 cents per share. Revenues do not meet analysts’ forecasts. The company said the ongoing pandemic continued to put pressure on its business during the quarter, and shares fell 5.4% in pre-trade.
Hasbro (HAS) – Hasbro added 2.2% to pre-market trade after the toy maker surpassed its highest quarter-end forecasts for its most recent quarter. Hasbro earned $ 1.21 per share, well over 88 cents per share, the consensus estimate. Revenues in the television, film and entertainment business jumped 61% from a year earlier. Hasbro also increased its quarterly dividend by 3% to 70 cents a share.
Tyson Foods (TSN) – Tyson rose 4.2% in premarkets after its quarterly earnings report. The company surpassed estimates by 97 cents per share, with a quarterly earnings of $ 2.87 per share. Beef and poultry producers ‘revenues also exceeded analysts’ forecasts. Tyson said he is on track to achieve $ 1 billion in productivity savings by the end of fiscal 2024.
Bumble (BMBL) – The dating service operator has announced the acquisition of the European dating company Fruitz for an undisclosed amount, the first deal to acquire Bumble. Fruitz is especially popular with Generation Z consumers.
Ford (F) – Ford fell 1.1% during pre-sale action after announcing it would halt or cut production at eight of its North American plants due to global semiconductor shortages. These changes will take effect throughout this week.
Spotify (SPOT) – Spotify CEO Daniel Eck said he strongly condemned the racist insults used by podcast Joe Rogan, but said removing his podcast from Spotify was not the answer. A number of popular musicians have downloaded their music from Spotify amid controversy over Rogan’s comments on Covid-19. Shares of Spotify fell 2% in the pre-market.
Snowflake (SNOW) – Shares of the cloud data platform provider rose 4.8% in premarkets after Morgan Stanley upgraded them to “overweight” from “equal weight”, saying investors underestimated Snowflake’s endurance potential and quality of growth.