By Peter Nurse
Investing.com -- Stocks in focus in premarket trade on Wednesday, December 16th. Please refresh for updates.
Twitter (NYSE:TWTR) stock rose 3.6% after JPMorgan upgraded its investment stance on the social media giant to ‘overweight’ from ‘neutral’, citing expected strong advertising growth.
Amazon (NASDAQ:AMZN) stock rose 0.2% after the e-commerce giant called for a U.S. judge to throw out the awarding of the Pentagon’s $10 billion JEDI cloud computer contract to Microsoft (NASDAQ:MSFT).
Delta Air Lines (NYSE:DAL) rose 0.4% after the airline announced it was in early talks with governments to add more quarantine-free flights overseas.
United Airlines (NASDAQ:UAL) stock dropped 1.2%, JetBlue Airways (NASDAQ:JBLU) fell 1.7% and Spirit Airlines (NYSE:SAVE) dropped 1.6% after JPMorgan downgraded its stance on the three airlines all to ‘underweight’ from ‘overweight’, citing disappointing demand trends.
Wish (NASDAQ:WISH) will be in focus as the online retailer starts trading after pricing its IPO at $24/share, raising more than $1 billion.
Tilray (NASDAQ:TLRY) stock rose 28% and Aphria (NASDAQ:APHA) stock rose 6.5% after the Canada-based companies agreed to merge in an all-stock deal to create the world’s largest cannabis producer.
Penumbra (NYSE:PEN) stock fell 8.1% after the medical device maker recalled a certain type of catheter used during heart surgery over worries about its safety.
American Outdoor Brands (NASDAQ:SWBI) stock rose 9.6% after swinging to a profit from a year-ago loss for its latest quarter, benefitting from customers spending more time on outdoor activities amid the pandemic.