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Spirit Airlines and JetBlue were in the spotlight before the market opened. Spirit’s stock plummeted over 38% amid reports that the airline is considering filing for bankruptcy. On the other hand, JetBlue saw a nearly 6% increase in its shares, as the company was previously in talks to merge with Spirit. Summit Therapeutics experienced a more than 9% rise after the FDA granted fast track designation to its cancer drug, ivonescimab.
Zim Integrated Shipping Services faced a 9% drop in its stock following the resolution of a strike at East Coast and Gulf Coast ports. This news also impacted other international shipping companies like Maersk and Hapag-Lloyd, whose Stocks fell by over 8% and 13% respectively. Rivian’s shares took an 8% hit after the electric-vehicle maker lowered its annual production guidance due to a supply shortage.
Vistra, a utility stock, rose by 1.8% in premarket trading and has been on a positive trend recently. CVS Health saw a 1.5% increase in its shares as the company considers restructuring its business by potentially splitting up its retail pharmacy and insurance units. Chubb, however, slipped more than 1% after a downgrade by Bank of America.
Meanwhile, SilverCrest Metals experienced a surge of over 13% after announcing that Coeur is acquiring the company for approximately $1.7 billion.
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Emily Jensen, graduated from the London School of Economics and Political Science (LSE) in the UK in 2015 with a degree in Economics. She specializes in financial markets and international trade. After graduating, she worked as an analyst at an investment bank in London, where she developed expertise in global economic trends. She later transitioned into consulting, focusing on fintech ventures and providing insights into global economic developments. Emily is passionate about the intersection of finance and technology and aims to drive innovation in the financial sector.
