Check out the companies making headlines before the bell:
Twitter (TWTR) – Twitter is down 1.5% in pre-market trading, likely to break a three-day winning streak that sent it up nearly 32%. Elon Musk – now the largest shareholder in Twitter – changed the type of SEC deposit regarding his stake purchase to show that it was not “passive”.
Spirit Airlines (Waffer) – Spirit said its board will consider a new $3.6 billion cash takeover offer Jet Blue (JBLU). Spirit had agreed in February to be bought by parent company Frontier Airlines frontier group (ULCC) for $2.9 billion in cash and inventory. Spirit is down 2.8% in the primary market, with JetBlue down 3.7% and Frontier down 3.9%.
Tilray (TLRY) — Tilray rose 2.1% in the primary market after reporting unexpected earnings for the fourth quarter, even as revenue fell short of analyst estimates. The cannabis producer also announced a deal with supermarket chain Whole Foods, which will sell cannabis powders produced by Tilray’s Manitoba Harvest subsidiary.
Rivian (RIVN) — Shares of Rivian rose 1.7% in the primary market after the company said it was on track to meet its previously announced production target of 25,000 electric vehicles this year.
Occidental Petroleum (OXY) – Shares of energy producers added 1.7% in pre-market activity after Stifel Financial started coverage with a “buy” rating. Occidental’s prices remain attractive even after it has nearly doubled so far this year, Stifel said, pointing to an underappreciated low-carbon business.
Intel Corporation (INTC) — Intel announced it is suspending commercial operations in Russia, after last month suspending shipments of semiconductors to customers in Russia and Belarus. Intel shares fell 1.1 percent in pre-market trading.
Joe Joe (GOGO) — Gogo is up 10.4% in premarket trading after the airline industry broadband provider announced that its stock will join the S&P SmallCap 600 Index ahead of Friday’s open.
Matrix Techniques (ARRY) — Array Technologies rose 14.5% in the primary market after the renewable energy equipment maker reported better-than-expected quarterly revenue and issued a positive revenue outlook. It has also appointed Kevin Hostler as its new CEO, effective April 18, replacing retired Jim Fusaro.
Simply good food (SMPL) — The food and snack foods manufacturer reported better-than-expected earnings and revenue for the fourth quarter, and raised its sales forecast for the current year.
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