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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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