Oracle, Twitter, Continental Resources Rise Premarket; Coinbase, Best Buy Fall

  • Stock Market News
Oracle, Twitter, Continental Resources Rise Premarket; Coinbase, Best Buy Fall
Credit: © Reuters.

By Peter Nurse -- Stocks in focus in premarket trade on Tuesday, June 14. Please refresh for updates.

  • Oracle (NYSE: ORCL ) stock soared 11% after the tech company reported strong quarterly revenue growth, helped by a major increase in demand in its infrastructure cloud business.

  • Twitter (NYSE: TWTR ) stock rose 3.1% with billionaire Elon Musk set to hold his first meeting with the social media giant's staff since the announcement of his attempted takeover.
  • Apple (NASDAQ: AAPL ) stock rose 0.6%, rebounding after the previous session’s losses, but the iPhone maker is under fire from European antitrust regulators again, with Germany's cartel office looking into the company's rules on tracking for third-party apps.

  • MicroStrategy (NASDAQ: MSTR ) stock fell 9.2% and Coinbase (NASDAQ: COIN ) stock dropped 5.9% as the cryptocurrencies remained under pressure, dragging the associated proxies down with them.

  • Continental Resources (NYSE: CLR ) stock rose 8.2% after the shale producer received an all-cash buyout proposal from its founder Harold Hamm, valuing the company at around $25 billion.

  • JetBlue Airways (NASDAQ: JBLU ) stock rose 1% and Spirit Airlines (NYSE: SAVE ) stock rose 1.2% after the latter said it was in talks with its bigger peer about a sweetened buyout proposal.

  • Best Buy (NYSE: BBY ) stock fell 1.8% after Bank of America downgraded its stance on the electronics retailer to ‘neutral’ from ‘buy’, expecting sales to quickly revert to pre-pandemic levels.

  • Chesapeake Energy (NASDAQ: CHK ) stock rose 2.2% after Credit Suisse initiated coverage on the energy company with an ‘outperform’ rating, saying it is undervalued based on its cash flow and shareholder returns.

  • Hewlett Packard Enterprise (NYSE: HPE ) stock fell 1.3% after Deutsche Bank downgraded its stance on the information technology company to ‘hold’ from ‘buy’, citing a potential downturn in IT spending.

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