By Peter Nurse
Investing.com -- Stocks in focus in premarket trade on Wednesday, April 6th. Please refresh for updates.
JetBlue Airways (NASDAQ:JBLU) stock fell 3.5% after the carrier made an unsolicited $3.6 billion bid for fellow low-cost airline Spirit Airlines (NYSE:SAVE), down 3%, potentially disrupting merger plans between Spirit and Frontier Group (NASDAQ:ULCC), down 3.8%.
Twitter (NYSE:TWTR) stock fell 2.6%, handing back some of the sharp recent gains on the announcement that billionaire Elon Musk has become the largest shareholder, gaining a seat at the board of the social media giant.
Tesla (NASDAQ:TSLA) stock fell 2.4% with the lockdown at China's financial hub of Shanghai, following a COVID outbreak, meaning the electric car manufacturer’s factory shutdown will have stretched out to at least 12 days.
Uber (NYSE:UBER) stock fell 2.4% after the ride-hailing firm announced it was adding trains, buses, planes, and car rentals to its U.K. app this year.
Occidental Petroleum (NYSE:OXY) stock rose 1.5% after Stifel initiated coverage of the oil company with a ‘buy’ rating, saying the shares could rise a further 45% from current levels.
Tilray (NASDAQ:TLRY) stock rose 7.5% after the cannabis producer recorded an unexpected profit for the latest quarter, while also announcing a deal with supermarket chain Whole Foods.
Intel (NASDAQ:INTC) stock fell 1.4% after the chipmaker announced it has suspended business operations in Russia, joining the long list of tech companies to exit the country, following its invasion of Ukraine.
- Rivian (NASDAQ:RIVN) stock rose 2.3% after the electric vehicle maker said it was on pace to achieve its production target of 25,000 units this year.