Stocks making the biggest moves premarket: Delta Air Lines, Twitter, Snap and more
In this article
Check out the companies making headlines before the bell:
Delta Air Lines (DAL) – Delta shares slid 2.9% in the premarket after reporting a mixed quarter. The airline earned an adjusted $1.44 per share for the second quarter, shy of the $1.73 consensus estimate. Revenue exceeded estimates on strong travel demand, but margins took a hit from higher fuel prices and higher operational costs.
Twitter (TWTR) – Twitter added 2% in premarket trading after the company sued Elon Musk to force him to adhere to the terms of their $44 billion takeover. Musk said earlier this week he was backing out of the deal, alleging that Twitter had violated the terms of their agreement.
Snap (SNAP) – The social media company is set to introduce a feature that would allow NFT artists to showcase their designs on Snapchat, according to people familiar with the situation who spoke to the Financial Times. Snap initially rose 1.7% in premarket action before paring those gains.
Stitch Fix (SFIX) – The clothing styler's shares rallied 9.5% in the premarket following news that Benchmark Capital's Bill Gurley bought one million shares. Gurley paid an average of $5.43 per share, according to an SEC filing. Gurley, who serves on the Stitch Fix board, already owned 1.22 million shares prior to the latest purchase.
Unity Software (U) – The provider of interactive software technology announced an all-stock merger agreement with ironSource (IS), an Israel-based software publisher. The transaction values ironSource at approximately $4.4 billion. Unity also announced it was cutting its full-year revenue guidance. Unity slumped 8.2% in premarket trading, while ironSource soared 57%.
Novavax (NVAX) – The drug maker's stock added 2.4% in premarket
Read more on cnbc.com
