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Check out the companies making headlines before the bell. Wayfair — The digital home goods retailer’s stock price fell after the company announced it would lay off 13% of its global workforce, including 19% of its corporate team, to reduce administrative responsibilities and lower costs. It soared nearly 12% premarket. This is Wayfair’s third restructuring since 2022 and is expected to save the company approximately $280 million. Hertz — Hertz fell 2.8% after Jefferies lowered its price target and downgraded its stock from buy to hold. The company said repair issues and depreciation costs for electric vehicles are hurting the company’s short-term profitability, even though Hertz plans to sell about a third of its EV fleet and reinvest in gas-powered vehicles instead. He said that he would limit the Spirit Airlines — Shares soared nearly 18% after the low-cost carrier said it expects fourth-quarter revenue to exceed the high end of previous expectations thanks to strong bookings. Mr. Spirit also expects operating profit to exceed expectations. Shares have fallen 62% since the beginning of the week after a judge blocked the airline’s merger with JetBlue Airways. iRobot, Amazon – iRobot stock fell nearly 35% after the Wall Street Journal reported that the EU’s antitrust watchdog plans to reject Amazon’s proposed takeover of the company. Meanwhile, Amazon shares rose 0.6%. Texas Instruments — The company should be among the first in its industry to be more responsive to orders because it is less dependent on distribution, after UBS upgraded the stock to buy and raised its price target. The stock price rose 2.1%. The company also raised its revenue forecasts for this year and 2025. Nvidia, Advanced Micro Devices — Semiconductor stocks rose again on Friday. Nvidia rose 1.7% after Wells Fargo named it a “clear beneficiary” of Meta’s AI infrastructure buildout. AMD rose 1.6% after hitting a record closing price on Thursday amid increased investor interest in the No. 2 standalone GPU maker. DraftKings — The sports betting company’s stock rose more than 1% after Mr. Stifel upgraded DraftKings from hold to buy. The investment firm said DraftKings looks fundamentally strong despite competition from ESPN Bet. JB Hunt Transport Services – Shares rose more than 3% after the company reported mixed quarterly results. Earnings per share were $1.47, lower than the $1.75 expected by analysts compiled by LSEG. The company reported revenue of $3.3 billion, higher than analysts’ expectations of $3.28 billion. JB Hunt reported that intermodal revenue decreased year-over-year, but volume increased 6%. —CNBC’s Tanaya Machel, Samantha Subin and Jesse Pound contributed reporting.
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