Peloton, Hasbro, Tyson Foods Rise Premarket; Spotify Falls

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Peloton, Hasbro, Tyson Foods Rise Premarket; Spotify Falls

By Peter Nurse -- Stocks in focus in premarket trade on Monday, February 7th. Please refresh for updates.

  • Peloton (NASDAQ: PTON ) stock rose 31% following reports both Amazon (NASDAQ: AMZN ) and Nike (NYSE: NKE ) were looking at potentially buying the troubled exercise equipment maker, one of the winners of the early Covid lockdowns but has since lost as much as 84% from its high last year.

  • Hasbro (NASDAQ: HAS ) stock rose 1.4% after the toy manufacturer beat expectations for its quarterly revenue, helped by strong demand for its card game "Magic: The Gathering".

  • Tyson Foods (NYSE: TSN ) stock rose 7.7% after the food processor beat estimates for quarterly revenue, helped by higher prices for its products. The company added it was on track to achieve $1 billion in productivity savings by the end of fiscal 2024.

  • Energizer (NYSE: ENR ) stock rose 3.9% after the manufacturer of batteries beat quarterly expectations, but warned that the current operating environment remains “very volatile.”

  • Bumble (NASDAQ: BMBL ) stock rose 0.9% after the dating app owner announced it has bought France's Fruitz in its first acquisition, trying to strengthen its foothold in Europe.

  • Spirit Airlines (NYSE: SAVE ) stock rose 12.5% and Frontier Group (NASDAQ: ULCC ) stock fell 1.5% after the pair of low-cost airlines announced a $2.9 billion merger deal, looking to expand their existing flying routes.

  • Spotify (NYSE: SPOT ) stock fell 2.5% after Reuters reported that New York State's top pension official has asked the streaming music platform for details about the effectiveness of its new content rules, amid complaints over podcaster Joe Rogan.

  • Bank of America (NYSE: BAC ) stock rose 0.3% after Wells Fargo lifted its price target on the lender to a new Street high, seeing more than 36% upside.

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