Meta, Coinbase, Spirit Airways rise premarket; Intel, Affirm fall
U.S. futures traded lower, ahead of the release of key labor market data, which could influence Federal Reserve thinking in…
U.S. futures traded lower, ahead of the release of key labor market data, which could influence Federal Reserve thinking in the run-up to July’s policy-setting meeting.
Here are some of the biggest premarket U.S. stock movers today:
Meta Platforms (NASDAQ:META) stock rose 2.92% after the Facebook owner launched Threads, a direct competitor to Twitter, on Wednesday, with the new service attracting millions of users in a matter of hours.
Bank of America (NYSE:BAC) stock fell 0.1% after the lender announced that it is raising its quarterly dividend by just 9%.
Qualcomm (NASDAQ:QCOM) stock fell 1% and Intel (NASDAQ:INTC) stock fell 1.26% as a trade war between Beijing and Washington over the ability to manufacture semiconductor chips escalates.
Coinbase (NASDAQ:COIN) stock rose 1% after Bitcoin, the world’s largest cryptocurrency, hit a 13-month high amid reports that fund managers are looking to create a U.S.-listed spot bitcoin exchange-traded fund or ETF.
JetBlue Airways (NASDAQ:JBLU) stock fell 1.3% after the carrier said it would follow a U.S. judge’s May order to end an alliance with American Airlines (NASDAQ:AAL), down 0.7%, to protect a planned $3.8 billion purchase of Spirit Airlines (NYSE:SAVE), up 2.7%.
ExxonMobil (NYSE:XOM) stock fell 0.9% after the energy giant signaled second quarter operating profits fell sharply on lower natural gas prices and weaker oil refining margins, according to a regulatory filing.
Affirm (NASDAQ:AFRM) stock fell 5.6% after Piper Sandler downgraded the fintech company to ‘underweight’ from ‘neutral’, saying higher rates and wider credit spreads will pressure operating margins.
American Express (NYSE:AXP) stock fell 2% after Baird downgraded the credit card giant to ‘neutral’ from ‘outperform’, ahead of its quarterly results later in July.
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