December 11, 2023

The exterior of the Sweetgreen Naperville branch

Source: Sweetgreen

Check out the companies making headlines pre-market:

JetBlue Airways — JetBlue Airways fell 1.3% in premarket trading after it said it would end its partnership with the Northeast. American airlines and focus on Spirit Airlines. American Airlines shares fell about 0.9 percent, while Spirit Airlines shares rose 2.3 percent.

meta platform — The social media giant saw a roughly 2% increase in pre-market volume following the launch of Twitter’s direct competitor, Threads. Meta CEO Mark Zuckerberg said on his Threads account earlier Thursday that 10 million people had signed up to the platform within seven hours of its launch.

sweet green — Sweetgreen shares rose more than 4% after Bank of America upgraded the stock to “buy” from “neutral.” The company cited growing traffic at the salad chain and plans to automate operations.

clean dr pepper — The stock rose nearly 2% after Morgan Stanley upgraded its rating to overweight from equal weight. The Wall Street firm said the stock is undervalued amid the clear trend in soft drinks.

Bank of America — Shares of Bank of America were little changed in premarket trading after it announced it would raise its quarterly dividend to 24 cents a share from 22 cents. That roughly 9% increase gives the bank a dividend yield of about 3.3%, based on Wednesday’s closing price. The hike came days after Bank of America said it was discussing with the Fed the discrepancy between the results of the central bank’s stress test and its internal version.

Microsoft — Microsoft rose 0.8 percent premarket. Morgan Stanley raised its price target on the tech giant, saying artificial intelligence could boost the company’s market valuation to more than $3 trillion.

plug power — Shares of Plug Power rose 1.8 percent. Citi for the first time gave the company a buy rating, saying it could become one of the world’s largest suppliers of green hydrogen.

Textron — Citi initiated a buy rating on aircraft maker Textron, saying the stock is primed for a comeback this year. Shares rose nearly 0.9 percent in premarket trading.

— CNBC’s Brian Evans, Michelle Fox and Jesse Pound contributing reporting