Take a look at some of the biggest drivers in the crypto market:
Spirit Airlines (SAVE) – Spirit surges 11.4% in money markets after announcement it will buy a competitor’s Frontier Airlines in a $6.6 billion stock swap that includes hypothetical debt. Shares of parent company Frontier Border group (ULCC) dropped 2.4%.
Peloton (PTON) – Peloton spike 28.5% higher in pre-market trading, following reports that both Amazon.com (AMZN) and Nike (NKE) is weighing a possible bid for the fitness equipment maker. The reports come days after activist investor Blackwells Capital urged Peloton’s board to consider selling the company.
Energizer (ENR) – The battery company saw its shares rise 5.7% in pre-market trading after reporting better-than-expected quarterly results. Energizer beat estimates by 8 cents in stock, with a profit of $1.03 per share. Revenue also topped Wall Street forecasts. Energizer warns the current operating environment remains “very volatile.”
Biometrics Zimmer (ZBH) – The maker of orthopedic and other medical products reported quarterly earnings of $1.95 per share, missing the consensus estimate of 3 cents a share. Revenue fell short of analysts’ forecasts. The company said the ongoing pandemic continued to weigh on its business during the quarter, and shares fell 5.4% in money markets.
Hasbro (HAS) – Hasbro added 2.2% in pre-market trading after the bread machine maker beat end-to-end profit estimates for its most recent quarter. Hasbro earned $1.21 per share, well above the 88 cents share consensus estimate. Revenue from the television, film and entertainment businesses grew 61% from a year earlier. Hasbro also increased its quarterly dividend by 3% to 70 cents per share.
Tyson Foods (TSN) – Tyson rallied 4.2% in money markets after reporting quarterly earnings. The company beat estimates by 97 cents a share, with quarterly earnings of $2.87 per share. The beef and poultry producer’s revenue also beat analysts’ forecasts. Tyson says it is on track to achieve $1 billion in productivity savings by the end of fiscal 2024.
Buzz (BMBL) – The operator of the dating service announced acquisition of European dating app company Fruitz for an undisclosed amount, the first acquisition of Bumble. Fruitz is especially popular among Generation Z consumers.
Ford (F) – Ford fell 1.1% in pre-sales action after announcing it would suspend or cut production at eight North American plants due to a global semiconductor shortage. Those changes will go into effect throughout this week.
Spotify (SPOT) – Spotify CEO Daniel Ek said he strongly condemns racial slurs used by podcaster Joe Rogan, but said removing his podcast from the Spotify platform was not the answer. Several popular music artists have pulled music from Spotify amid controversy over Rogan’s comments about Covid-19. Spotify shares fell 2% in money markets.
Snowflakes (SNOW) – Shares of the cloud data platform provider jumped 4.8% in money markets after Morgan Stanley upgraded it to “overweight” from “equivalent weight,” said Investors are underestimating Snowflake’s potential in terms of growth durability and quality.
