Check out the companies making headlines in premarket trading. Spirit Airlines , JetBlue Airways — The airline stocks slid after a federal judge blocked JetBlue Airways’ proposed $3.8 billion acquisition of Spirit Airlines. Following the move, Bank of America Securities moved Spirit Airlines to an underperform rating, from no rating prior, saying the airline operator has “a difficult path ahead to return to its historical level of growth and profitability.” Susquehanna Financial Group also downgraded Spirit to negative from neutral. JetBlue shares fell nearly 1%, while Spirit Airlines dropped more than 20%. Interactive Brokers — Shares slipped 3% in Wednesday premarket trading, the morning after the electronic broker posted fourth-quarter results. While adjusted revenue came in at $1.15 billion against a $1.14 billion consensus estimate of analysts polled by LSEG, adjusted earnings per share were below Wall Street’s forecast by 3 cents. Sinclair — The broadcaster advanced 5.2% after announcing the settlement of all litigation related to Diamond Sports Group. Sinclair will pay Diamond $495 million in cash as part of the agreement. SolarEdge Technologies — The solar stock fell 5% following a downgrade by Barclays to underweight from equal weight. The firm anticipates continued slow growth and lower gross margins relative to peers due to elevated inventories. Twist Bioscience — Shares climbed 3.2% on the heels of an upgrade to buy from neutral at Goldman Sachs. The Wall Street bank said the critical new product launch of Express Genes , a rapid synthetic service, should help expand margins. Teladoc — The virtual healthcare platform retreated nearly 3% following D.A. Davidson’s downgrade to neutral from buy. D.A. Davidson said the company should see stalled growth in main business areas. Nutanix — Shares traded 4% higher after William Blair initiated coverage of the cloud stock with an outperform rating. The firm said Nutanix should be a top…
Read the full article here
Leave a Reply