Early on into Thursday’s premarket trading session and shares of Spirit Airlines ( NYSE: SAVE ) and Ford Motor Company ( NYSE: F ) have both trended higher. SAVE gained on a merger deal with JetBlue Airways ( JBLU ), and F jumped on strong earnings.
Falling lower are shares of the tech giant Meta Platforms ( NASDAQ: META ) and shares of Qualcomm ( NASDAQ: QCOM ). Both META and QCOM have found themselves in the red after the two companies delivered investors with weaker then expected future guidance figures.
Gainers
Spirit Airlines ( SAVE ) tracked higher by 4% in early market trading after the low-cost airline carrier had agreed to be bought out by JetBlue Airways ( JBLU ) for $3.8B. According to the agreement put in place, JBLU will acquire SAVE for $33.50 per share in cash.
Ford Motor Company ( F ) has moved into the green, +6.7% as the auto manufacturer stock delivered higher than anticipated earnings results and reaffirmed its full-year targets. Ford’s beat on top and bottom lines came despite deteriorating sales and supply chain problems the firm faced in China.
Decliners
Meta Platforms ( META ) started Thursday off on its back foot down 4.5% after its second-quarter earnings missed analyst estimates and the firm’s third-quarter guidance fell well short of expectations. Meta Platforms revenues of $28.82B fell 1%, which was its first revenue drop as a public company. Delivering a further blow was META’s Q3 outlook: The company anticipates revenues of $26B-$28.5B, compared to Wall Street's estimate for $30.38B.
Shares of Qualcomm ( QCOM ) have fallen lower by 3.6 % in Thursday’s premarket session after the semiconductor giant posted third-quarter results that beat expectations, but said fourth-quarter results would be sharply below Wall Street's estimates .
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Hot Stocks: SAVE gains on takeover, F pops on earnings, while META and QCOM slide on future guidance