Amazon stock could waver this holiday season. Morgan Stanley said buy the dip. Analysts led by Brian Nowak, who rates the e-commerce firm’s stock at Overweight with a price target of $210, highlight Amazon’s focus on lower-priced, lower-margin essentials that are weighing on margins overall and holding back profit growth in its North America retail segment.
Amazon shares gained 1.4% in overnight trading.
Spirit Airlines is in talks with bondholders over the terms of a potential bankruptcy filing in the wake of its failed merger with JetBlue Airways, the Wall Street Journal reported on Thursday.
Spirit Airlines shares tumbled 30.4% in overnight trading.
Chinese ADRs rebounded in overnight trading. YINN rose 10%; Alibaba rose 3.2%; PDD Holdings rose 3.5%; JD.com rose 6.3%; Baidu rose 3.4%; NetEase rose 2.9%; NIO rose 4.8%; Li Auto rose 5.8%; XPeng rose 6.2%; Bilibili rose 6.1%; Trip.com rose 6.7%; iQiyi rose 4.7%.
Shares of ZIM Integrated Shipping Services Ltd. dropped 6.1% in overnight trading after workers and U.S. port operators agreed a deal to end a strike on the East and Gulf coast docks far sooner than expected.