These were some of the biggest drivers and shakers in Thursday’s premarket trading:
American depositary receipts from the Swiss bank CreditSuisse
were up 8% premarket on Thursday after the troubled bank said it would borrow 50 billion francs ($54 billion) from the Swiss central bank and buy back debt.
Snapchat’s parent company snap
is up over 6% premarket after a Wall Street Journal report that the Biden administration has urged Chinese tech firm ByteDance to sell its U.S. arm of TikTok or face a potential U.S. ban metaplatforms
The stock also rose 2% premarket following the news.
shares in a software company Adobe
Slightly up nearly 6% after reporting fiscal first-quarter results that beat Wall Street estimates and improved its outlook for the fiscal year.
Shares rose 2% to $75.69 after Mizuho upgraded Jack Dorsey’s tech conglomerate to buy from neutral and raised its price target to $93 from $80.
Virgo Orbit‘s VORB,
The stock fell 40% in premarket trading after announcing it would cease operations effective today CNBC. The space launch developer said it suspended operations for a week and furloughed most employees to seek funding.
Bank of the First Republic
The stock fell nearly 19% premarket Thursday morning. The stock fell 21% on Wednesday after two rating agencies downgraded its credit rating to junk. A Bloomberg report late Wednesday said the embattled bank was reviewing its strategic options, including a potential sale. Other regional banks that have taken a hit are among others PacWest Bancorp
which fell more than 12% during Thursday’s premarket trading session.
The stock fell over 16% after the electric vehicle technology maker said it may not have enough cash at the end of its fiscal first quarter.
plunged 57% in premarket trading after a standoff between Daiichi Sankyo Europe DSNKY,
The company said it “would be eligible for $300 million in milestone payments” for its two cholesterol-lowering drugs, according to the report filed with the SEC.
American Depositary Receipts from China baidu
is down nearly 6% premarket after disappointing investors with its response to Chat GPT.
Source : www.marketwatch.com