Bed Bath & Beyond, Nikola, Virgin Orbit, And More Make Big Moves Premarket

‍Bed Bath & Beyond

The company's shares fell 2% before the bell on Friday, continuing a process that saw them lose more than 26% on Thursday. The declines came after the company, once again, warned that, if its proposed $300 million stock offering failed to materially improve its financial situation, it may have to file for bankruptcy protection.

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Nikola

In response to the company's announcement that it intends to raise $100 million directly through its secondary market listing or a private sale in the event that it needs to do so, the stock fell 5%.

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Virgin Orbit

According to Virgin Orbit, its losses totaled more than 43% after the company announced that it is ceasing operations "for the foreseeable future" after failing to secure adequate funding. In addition, Virgin Orbit announced that it is planning to eliminate more than 90% of its workforce.

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Digital World Acquisition

As a result of a grand jury indictment of former president Donald Trump on charges related to "hush money" payments before his 2016 presidential campaign, stock prices for SPACs linked to the former president spiked as much as 19% in premarket trading on Friday.

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BlackBerry

StreetAccount analysts had forecast revenue of $154 million, compared to the $151 million the company reported in its fourth quarter.

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Generac Holdings

It said Generac's 2023 guidance seems out of reach with a pressured residential segment. The firm downgraded the power systems provider from neutral to underperforming.

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Regional bank stocks 

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In the past few weeks, there have been a number of regional bank stocks that have been volatile. The shares of First Republic increased 1.7%, while Zions Bancorporation, PacWest, and KeyCorp each increased 0.6%. Shares of SPDR S&P Regional Banking ETF gained 0.4%. A recent decline in bank borrowings from the Fed may indicate that the sector is suffering from liquidity problems.

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