Today's Pre-Market Stock Movers: DWAC, BBBY, NKLA, VORB and More
Gapping up
$Digital World Acquisition Corp(DWAC.US$ +19% (The SPAC linked to former President Donald Trump surged after a New York grand jury formally indicted Trump on charges related to "hush money" payments made before his 2016 campaign for president.)
Regional bank stocks $First Republic Bank(FRC.US$ +1.7%, $Zions Bancorp(ZION.US$ +0.6% $PacWest Bancorp(PACW.US$ +0.6% (Some regional bank stocks that have been volatile in recent weeks rose Friday. UBS noted that bank borrowings from the Fed declined last week, a sign that liquidity issues may be under control following a difficult month for the broader sector.)
Gapping down
$Bed Bath & Beyond Inc(BBBY.US$ -2% ( The declines came after the company once again warned that it may need to file for bankruptcy protection if its proposed $300 million stock offering fails.)
$Nikola(NKLA.US$ -5% (The electric truck maker announced plans to raise $100 million through a secondary stock offering, or a private sale of stock if needed.)
$Virgin Orbit(VORB.US$ -43% (The company announced that it would halt operations "for the foreseeable future" as it fails to secure funding. Virgin Orbit also said it will eliminate about 90% of its workforce.)
$BlackBerry(BB.US$ -2% (The software company posted fourth-quarter revenue that fell slightly short of consensus estimates. The company's top line came in at $151 million, while analysts polled by StreetAccount had forecast revenue of $154 million.)
$Generac(GNRC.US$ -3.7% (The power systems provider received a downgrade to underperform from neutral by Bank of America. The firm said Generac's guidance for the 2023 fiscal year seems out of reach with its residential segment pressured.)
Source: Dow Jones
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