Stocks making the biggest moves premarket: Six Flags, UBS, IonQ, Archer Aviation and more
Check out the companies making headlines in premarket trading.
UBS — Stock in the Swiss bank ticked up 4.6% before the opening bell following news that UBS ended a $10 billion loss protection agreement and a public liquidity backstop with Credit Suisse. UBS also confirmed that Credit Suisse fully repaid a 50 billion Swiss franc emergency liquidity loan to the Swiss National Bank.
Six Flags — The amusement park stock slipped 2.5% after missing on second-quarter estimates. The company reported adjusted earnings of 25 cents per share on $444 million in revenue, while analysts polled by Refinitiv forecast 78 cents and $459 million.
Maxeon Solar Technologies – The clean energy stock tumbled 26% in premarket trading after Maxeon said demand was weakening. Second quarter revenue of $348.4 million missed a guidance range that started at $360 million. Maxeon said it expected revenue to total between $280 million and $320 million in the third quarter. High interest rates was one reason Maxeon cited for the demand issues.
Savers Value Village — The thrift store retailer climbed nearly 6% on the heels of an earnings beat. The company notched adjusted earnings per share of 22 cents on $379 million in revenue, while FactSet had forecast 17 cents and $375 million.
Flower Foods — The baked goods company added 2.4% after beating on the top and bottom line in the second quarter. Flower Foods earned an adjusted 33 cents per share on $1.23 billion in revenue, while Refinitiv put the consensus at 28 cents and $1.2 billion.
Archer Aviation — Shares soared nearly 23% after Archer settled a lawsuit with Boeing over an autonomous flying dispute. Archer also recently completed a $215 million equity investment round, including contributions from United Airlines and Cathie Wood’s Ark Investment Management.
IonQ — The computing hardware firm added 8.2% after posting a wider-than-expected quarterly loss and a revenue miss. IonQ did, however, raise its booking guidance to a range of $49 million to $56 million.
— CNBC’s Jesse Pound contributed reporting
