Business

Twitter, Spirit Airlines, Tilray and others

Check out the companies that make headlines before the call:

Twitter (TWTR) – Twitter fell 1.5% in premarket, potentially snapping a three-day winning streak as it gained nearly 32%. Elon Musk — now Twitter’s largest shareholder — changed the type of SEC filing regarding the purchase of his shares to show that it was not “passive.”

Spirit Airlines (SAVE) – Spirit said its board will consider a new $3.6 billion cash takeover bid from JetBlue (JBLU). In February, Spirit agreed to buy Frontier Group (ULCC), the parent company of Frontier Airlines, for $2.9 billion in cash and stock. Shares of Spirit fell 2.8% in premarket trading, JetBlue shed 3.7% and Frontier shed 3.9%.

Tilray (TLRY) – Tilray’s stock rose 2.1% in premarket trading after reporting a windfall in the latest quarter, despite revenue falling below analysts’ estimates. The cannabis maker also announced a deal with supermarket chain Whole Foods, which will sell cannabis powder produced by Tilray subsidiary Manitoba Harvest.

Rivian (RIVN) – Rivian’s shares rose 1.7% in premarket trading after the company said it was on track to reach its previously stated goal of producing 25,000 electric vehicles this year.

Occidental Petroleum (OXY) – Shares of the energy producer added 1.7% in premarket trading after Stifel Financial began covering with a buy recommendation. Stiefel said Occidental prices remain attractive even after nearly doubling this year, noting a largely undervalued low-carbon business.

Intel (INTC) – Intel announced the suspension of operations in Russia after suspending semiconductor shipments to customers in Russia and Belarus last month. Intel shares fell 1.1% in premarket trading.

Gogo (GOGO) – Gogo rose 10.4% in premarket trading after the airline broadband provider announced that its shares would join the S&P SmallCap 600 index ahead of Friday’s open.

Array Technologies (ARRY) – Shares of Array Technologies rose 14.5% in premarket trading after the renewable energy equipment maker reported higher-than-expected quarterly revenue and posted an upbeat earnings forecast. He also named Kevin Hostetler as his new CEO effective April 18, replacing the retiring Jim Fusaro.

Simply Good Foods (SMPL), the food and snacks maker, reported higher-than-expected earnings and revenue for the latest quarter and raised its sales guidance for the current year.


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