Stocks making the biggest moves premarket: Moderna, American, Spirit Airlines, Ford and more

Market Insider

A member of the Mississippi National Guard receives a dose of the Moderna COVID-19 vaccine in his arm, in Flowood, Mississippi.
Rogelio V. Solis | AP

Check out the companies making headlines before the bell.

Moderna — Moderna shares rose more than 3% in early trading after the Centers for Disease Control and Prevention recommended updated Covid vaccine shots for all Americans ages 6 months and older. Pfizer shares added 0.2%.

Apple — Apple dipped 0.4% before the bell, one after debuting its latest iPhone model and multiple updates, including a new Apple Watch and revamped AirPods.

Ford — Shares of the automaker rose 1.5% premarket after UBS analyst Joseph Spak initiated research coverage with a buy rating and a $15 price target implying 21% upside. Spak said Ford’s pro business, its commercial segment, should show more resiliency than expected and potentially mitigate downsides from issues in blue and electric car models.

BP — Shares rose more than 1% before the open one day after BP CEO Bernard Looney resigned a little more than three years after assuming the post. BP shares in the U.S. closed down 1.3% Tuesday, reversing an early 2.9% gain.

Xpeng, NIO — U.S.-based shares of Chinese electric vehicle makers Xpeng and NIO fell more than 3% and 2%, respectively, after the European Union said it’s considering imposing anti-subsidy tariffs on Chinese imports to protect domestic producers.

American Airlines, Spirit Air — American fell 3.1% after lowering its third-quarter earnings guidance, citing higher fuel prices and costs from a new labor agreement. The airline now expects per-share earnings in the range of 20 cents to 30 cents, lower than prior guidance of 85 cents to 95 cents. Spirit dropped 3.9% after cutting its summer profit forecast owing to higher costs.

— CNBC’s Samantha Subin, Pia Singh, and Sarah Min contributed reporting

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