The stock market looked like it would be trading lower going into trading on Friday as investors continued to grapple with fear brought on by inflation and the risk of a U.S recession. S&P 500 futures dropped 0.4%.
Here are some stock picks making moves in premarket trading on Friday.
Kohl’s (ticker: KSS) declined 15% after the department store chain announced it had ended talks to be acquired by Franchise Group (ticker: FRG). Shares of the company fell 3.2%.
Shares of Micron Technology (ticker: MU) dropped 4.4% after the memory chips maker said fiscal fourth-quarter results wouldn’t meet analysts’ expectations.
Li Auto (ticker: LI) gained 1.6%, NIO (ticker: NIO) climbed by 1.8% and Xpeng (ticker: XPEV) was rising 2.1%. As far as deliveries are concerned, all three EV companies posted strong results in June as production and demand for electric vehicles in China rebounded.
Frontier Group Holdings (ticker: ULCC) dropped 1.1% on Friday after JetBlue Airways (ticker: JBLU) announced an extension on its tender offer to buy Spirit Airlines (ticker: SAVE). Shares of Spirit dropped 1.2% while JetBlue stock stayed level.