Get 40% Off
🤯 This Tech Portfolio is up 29% YTD! Join Now to Get April’s Top PicksGet The Picks – Just 99 USD

Morgan Stanley, Spirit Airlines, Snowflake Rise Premarket; Nike Falls

Published 06/28/2022, 07:37 AM
Updated 06/28/2022, 07:38 AM
© Reuters.

© Reuters.

By Peter Nurse

Investing.com -- Stocks in focus in premarket trade on Tuesday, June 28th. Please refresh for updates.

  • Nike (NYSE:NKE) stock fell 2.1% after the athletic footwear retailer forecast first quarter revenue below estimates as it expects to discount more and wrestles with pandemic-related disruptions in China, its most profitable market.

  • Morgan Stanley (NYSE:MS) stock rose 3.2%, Goldman Sachs (NYSE:GS) stock rose 1.9%, Wells Fargo (NYSE:WFC) stock rose 1.0%, Bank of America (NYSE:BAC) stock rose 1.2%, JPMorgan (NYSE:JPM) stock rose 1.1% and Citigroup (NYSE:C) stock rose 1.2% after the banks passed the Federal Reserve’s stress tests, prompting some to hike their dividends.

  • JetBlue (NASDAQ:JBLU) stock rose 0.7% after the budget airline increased its bid for Spirit Airlines (NYSE:SAVE), up 4.1%, ratcheting up the war with Frontier Group (NASDAQ:ULCC), up 3.8%, as the race for the ultra-low-cost carrier continues.

  • Occidental Petroleum (NYSE:OXY) stock rose 4.2% after Berkshire Hathaway (NYSE:BRKa) increased its stake in the oil company to 16.4%.
  • Twitter (NYSE:TWTR) stock rose 0.4% after Elon Musk gained access to data that he said was needed to complete his $44 billion acquisition of the social media giant.

  • Ford (NYSE:F) stock rose 1% after the auto giant warned the U.K. government that overriding a trade agreement with the European Union may threaten further investments in the country.

  • FedEx (NYSE:FDX) stock rose 1.1% and UPS (NYSE:UPS) stock rose 0.6% after Credit Suisse stated that it's now time to buy the delivery services as the recent share price falls present attractive buying opportunities.

  • Snowflake (NYSE:SNOW) stock rose 3.3% after Jefferies upgraded its stance on the cloud-based data warehouse company to ‘buy’ from ‘hold’, seeing an “attractive entry point” and potentially 35% upside.

Latest comments

The fraud and criminal manipulation continues.
Sometimes they fraud us while we sleep.
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.