Twitter, American Outdoor Brands Rise Premarket; Penumbra Falls

The Twitter logo and stock prices are shown above the floor of the New York Stock Exchange shortly after the opening bell in New York, U.S., January 23, 2018. REUTERS/Lucas Jackson — Stocks in focus in premarket trade on Wednesday, December 16th. Please refresh for updates.

  • Twitter (NYSE:TWTR) stock rose 3.6% after JPMorgan upgraded its investment stance on the social media giant to ‘overweight’ from ‘neutral’, citing expected strong advertising growth.

  • Amazon (NASDAQ:AMZN) stock rose 0.2% after the e-commerce giant called for a U.S. judge to throw out the awarding of the Pentagon’s $10 billion JEDI cloud computer contract to Microsoft (NASDAQ:MSFT).

  • Delta Air Lines (NYSE:DAL) rose 0.4% after the airline announced it was in early talks with governments to add more quarantine-free flights overseas.

  • United Airlines (NASDAQ:UAL) stock dropped 1.2%, JetBlue Airways (NASDAQ:JBLU) fell 1.7% and Spirit Airlines (NYSE:SAVE) dropped 1.6% after JPMorgan downgraded its stance on the three airlines all to ‘underweight’ from ‘overweight’, citing disappointing demand trends.

  • Wish (NASDAQ:WISH) will be in focus as the online retailer starts trading after pricing its IPO at $24/share, raising more than $1 billion.

  • Tilray (NASDAQ:TLRY) stock rose 28% and Aphria (NASDAQ:APHA) stock rose 6.5% after the Canada-based companies agreed to merge in an all-stock deal to create the world’s largest cannabis producer.

  • Penumbra (NYSE:PEN) stock fell 8.1% after the medical device maker recalled a certain type of catheter used during heart surgery over worries about its safety.

  • American Outdoor Brands (NASDAQ:SWBI) stock rose 9.6% after swinging to a profit from a year-ago loss for its latest quarter, benefitting from customers spending more time on outdoor activities amid the pandemic.