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Meta, Coinbase, Spirit Airways rise premarket; Intel, Affirm fall

Published 2023/07/06, 14:10
© Reuters

Investing.com -- 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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