Spirit, Digital World, Coinbase Fall Premarket; AutoZone, Chewy Rise

2022.06.27 15:17

Budrigannews.com — Stocks in focus in premarket trade on Monday, June 27. Please refresh for updates.

• Spirit Airlines (NYSE:SAVE) stock fell 5.6% after the carrier said it will accept the latest improved takeover offer from Frontier Group (NASDAQ:ULCC), down 1.8%, which is below the bid from rival discount airline JetBlue (NASDAQ:JBLU), up 1.2%.

• Nike (NYSE:NKE) stock rose 1% ahead of the athletic footwear retailer’s fourth-quarter results, due after the close, a few days after it announced plans to make a full exit from Russia.

• BioNTech (NASDAQ:BNTX) stock rose 2.4% after the drug maker said a booster dose of updated versions of its COVID-19 vaccine, developed with Pfizer (NYSE:PFE), up 0.3%, generated a higher immune response against the Omicron variant.

• McDonald’s (NYSE:MCD) stock rose 0.2% after the burger giant announced that Ian Borden, president of its international business, would take over as chief financial officer, with the current finance head Kevin Ozan moving to lead the company’s strategic initiatives.

• Digital World Acquisition Corp (NASDAQ:DWAC) stock fell 10.5% after the special purpose acquisition company disclosed each director on its board had been issued subpoenas seeking more information on its deal with former U.S. President Donald Trump’s social media firm.

• Coinbase (NASDAQ:COIN) stock fell 4.9% after Goldman Sachs downgraded its stance on the cryptocurrency exchange to ‘sell’ from ‘neutral’ as the sell-off in the prices of digital currencies continues to put pressure on the platform.

• AutoZone (NYSE:AZO) stock rose 2.9% after Goldman upgraded its stance on the retailer of automotive parts to ‘buy’ from ‘neutral’, saying it is “defensively positioned” to weather inflation.

• Robinhood (NASDAQ:HOOD) stock rose 2.5% after Goldman upgraded its stance on the online brokerage to ‘neutral’ from ‘sell’, seeing a more balanced risk-reward basis as the stock has underperformed significantly of late.

• Chewy (NYSE:CHWY) stock rose 4.8% after Needham upgraded its stance on the pet retailer to ‘buy’ from ‘hold’, saying it’s due a comeback after falling around 35% this year.