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

Stock Markets Jun 28, 2022 13:04
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© 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 (SIX:CSGN) 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.

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

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