Twitter, Snowflake, Stitch Fix Rise Premarket; Delta, Illumina Fall
By Peter Nurse
Investing.com -- Stocks in focus in premarket trade on Wednesday, July 13th. Please refresh for updates.
Twitter (NYSE: TWTR ) stock rose 2.3% after the social media platform announced it was suing Elon Musk for violating his $44 billion deal to buy the company, asking a Delaware court to order the world's richest person to complete the merger at the agreed price.
Delta Air Lines (NYSE: DAL ) stock fell 3% despite the carrier reporting a quarterly profit, with travelers paying more to fly and thus compensating for higher costs. It also vowed to improve reliability after cancellations prompted it to scale back its summer schedule.
Illumina (NASDAQ: ILMN ) stock fell 3.1% after the U.S. life sciences company lost its challenge against European Union scrutiny of its $8 billion cash-and-stock takeover of Grail.
Alphabet (NASDAQ: GOOGL ) stock fell 0.2% after the owner of search giant Google said it would slow the pace of hiring for the rest of the year, suffering from the soaring inflation and the fallout from the Ukraine crisis.
Spirit Airlines (NYSE: SAVE ) stock rose 0.3% after the low-cost carrier said it intends to delay the shareholder vote on its merger deal with Frontier Group (NASDAQ: ULCC ), up 3.4%, to July 27.
Snowflake (NYSE: SNOW ) stock rose 1.5% after Baird initiated coverage of the cloud computing-based data warehousing company at ‘outperform’, saying it could show strong growth even in a recession.
- Stitch Fix (NASDAQ: SFIX ) stock rose 8.2% following an SEC filing stating that Benchmark Capital’s Bill Gurley, who serves on the company's board, bought a further one million shares.
- Fastenal (NASDAQ: FAST ) stock fell 6% after the industrial fastener manufacturer said it saw signs of softening demand in May and June.
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