On August 11, 2021, Joby Aviation’s electric vertical take-off and landing (eVTOL) aircraft launched its initial public offering outside the New York Stock Exchange (NYSE).
Michael Nagel | Bloomberg | Getty Images
Check out the companies making the biggest moves in pre-market trading:
Joby Air — Shares of Joby rose another 17% premarket.the airline announced $100 million equity investment The partnership from SK Telecom in South Korea expands on an existing partnership. Shares soared 40% on Wednesday after the company said it had received the approval Allowed to start flight test Its first electric vehicle take-off and landing vehicle (eVTOL).
Micron Technology — Shares rose 2.3 percent after the latest quarterly revenue topped analysts’ estimates after the close on Wednesday. Micron’s revenue of $3.75 billion beat analysts’ expectations of $3.65 billion, according to Refinitiv data. Micron said it believes the memory chip industry has weathered the trough in revenue and now expects margins to improve.
FuGuo bank, JPMorgan, Bank of America — Bank stocks rose after passing the Fed’s annual stress test on Wednesday. Wells Fargo and Bank of America rose nearly 2 percent, while JPMorgan rose 1.6 percent.
Charles Schwab — Shares rose 2.7 percent after the Fed’s stress test. Brokerage firms had the lowest gross loan loss ratio at 1.3%.
citizenship finance — Banks in the region fell 1.6 percent in premarket trading. JPMorgan downgraded the Providence, Rhode Island-based bank to neutral from overweight following the Fed’s stress test, citing further pressure on profitability from higher capital requirements.
Frey battery — The stock surged nearly 11% after Morgan Stanley upgraded its rating to overweight from equal weight. Analyst Adam Jonas said he believed the company could “make meaningful progress on commercial milestones.” His $13 price target represents an upside of 72% from Wednesday’s close.
western petroleum corp. — Occidental rose more than 1% after Berkshire Hathaway said on Wednesday it had bought more shares of the oil giant. Between June 26 and 28, Warren Buffett’s group bought a total of 2.1 million shares, according to one investor. Regulatory filingbringing its status to 25%.
backlog — Shares of Overstock rose 9 percent premarket after Overstock completed the acquisition of the Bed Bath & Beyond brand to emerge from bankruptcy. Overstock will switch to the Bed Bath & Beyond name in the coming weeks.
virgin galactic — Shares of Richard Branson’s space company rose more than 1% in premarket trading. Virgin Galactic will launch its first commercial space flight later Thursday.
— CNBC’s Tanaya Macheel, Jesse Pound, Sarah Min, Michael Bloom and Brian Evans contributed reporting.
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