Stocks making the biggest moves premarket: Moderna, American, Spirit Airlines, Ford and more
Check out the companies making headlines before the bell.
Moderna — Moderna shares rose more than 3% in early trading after the Centers for Disease Control and Prevention recommended updated Covid vaccine shots for all Americans ages 6 months and older. Pfizer shares added 0.2%.
Apple — Apple dipped 0.4% before the bell, one day after debuting its latest iPhone model and multiple updates, including a new Apple Watch and revamped AirPods.
Ford — Shares of the automaker rose 1.5% in premarket trading after UBS analyst Joseph Spak initiated research coverage with a buy rating and a $15 price target implying 21% upside. Spak said Ford’s pro business, its commercial segment, should show more resiliency than expected and potentially mitigate downsides from issues in blue and electric car models.
BP — Shares rose more than 1% before the market open one day after BP CEO Bernard Looney resigned a little more than three years after assuming the post. BP shares in the U.S. closed down 1.3% Tuesday, reversing an early 2.9% gain.
Xpeng, Nio — U.S.-based shares of Chinese electric vehicle makers Xpeng and Nio fell more than 3% and 2%, respectively, after the European Union said it’s considering imposing anti-subsidy tariffs on Chinese imports to protect domestic producers.
American Airlines, Spirit Airlines — American Airlines fell 3.1% after lowering its third-quarter earnings guidance, citing higher fuel prices and costs from a new labor agreement. The airline now expects earnings per share in the range of 20 cents to 30 cents, lower than prior guidance of 85 cents to 95 cents. Spirit dropped 3.9% after cutting its summer profit forecast, owing it to higher costs.
— CNBC’s Samantha Subin, Pia Singh and Sarah Min contributed reporting.
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