Pre-Open Stock Movers 05/02: Innoviz Jumps on OEM Deal; Spirit Airlines Falls on Deal News, Moody's Dumps on Earnings
Investing.com
Published May 02, 2022 05:10AM ET
Updated May 02, 2022 09:12AM ET
Pre-Open Stock Movers:
Innoviz Technologies (NASDAQ:INVZ) 14% HIGHER; one of the largest vehicle manufacturers in the world has selected Innoviz to become its direct LiDAR supplier across multiple brands.
Spirit Airlines, Inc. (NYSE:SAVE) 9% LOWER; today announced that its Board of Directors, in consultation with outside financial and legal advisors, has unanimously determined that the unsolicited proposal received from JetBlue Airways (NASDAQ:JBLU) does not constitute a 'Superior Proposal' as defined in Spirit's merger agreement with Frontier Group Holdings, Inc. (NASDAQ:ULCC), parent company of Frontier Airlines, Inc., because it has determined that the proposed transaction is not reasonably capable of being consummated. The Board continues to believe that the pending transaction with Frontier represents the best opportunity to maximize value and recommends that Spirit shareholders adopt the merger agreement with Frontier. Spirit's Board of Directors also issued the following letter to JetBlue.
Moody's Corp. (NYSE:MCO) 7% LOWER; reported Q1 EPS of $2.89, $0.01 worse than the analyst estimate of $2.90. Revenue for the quarter came in at $1.5 billion versus the consensus estimate of $1.51 billion. Moody's Corp. sees FY2022 EPS of $10.75-$11.25, versus the consensus of $11.91.
onsemi (NASDAQ:ON) 3% HIGHER; reported Q1 EPS of $1.22, $0.17 better than the analyst estimate of $1.05. Revenue for the quarter came in at $1.95 billion versus the consensus estimate of $1.9 billion. onsemi sees Q2 2022 EPS of $1.20-$1.32, versus the consensus of $1.05. onsemi sees Q2 2022 revenue of $1.965-2.065 billion, versus the consensus of $1.92 billion.
Activision Blizzard (NASDAQ:ATVI) 2% HIGHER; Warren Buffet's Berkshire Hathaway (NYSE:BRKa) raised its stake to 9.5% in a bet on the video game maker's merger with Microsoft (NASDAQ:MSFT).
Amazon.com, Inc. (NASDAQ:AMZN) 2% LOWER; continues last week's drubbing following earnings. Wedbush removed the stock from its Best Ideas List.
Ceragon Networks Ltd. (NASDAQ:CRNT) 2% HIGHER; announced an agreement with DISH Wireless (NASDAQ:DISH) to provide ultra-high capacity IP-50C microwave and IP-50E millimeter wave transport solutions.
Apple Inc. (NASDAQ:AAPL) 1% LOWER; continues last week's post-earnings slide. The company was hit with another EU antitrust charge over its mobile payments technology.
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Written By: Investing.com
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