Check out the companies making headlines before the market opens. Spirit Airlines, JetBlue – Spirit Airlines shares plunged more than 38% after the Wall Street Journal reported the budget airline was considering filing for bankruptcy. Shares of fellow airline JetBlue, which has been in merger talks with Spirit, rose nearly 6%. Summit Therapeutics – Shares of the biopharmaceutical company rose more than 9% after the U.S. Food and Drug Administration granted Summit’s cancer drug ivonescimab Fast Track designation. Zim Integrated Shipping Services — Shares of the international shipping company fell more than 9% after U.S. longshoremen and the U.S. Maritime Union agreed to a tentative deal to end strikes at East Coast and Gulf Coast ports. . The news also weighed on other international shipping stocks. Shares in Danish shipping giant Maersk fell more than 8% before recovering some losses, while German shipping giant Hapag-Lloyd’s shares fell more than 13%. Rivian – Shares fell 8% after the electric car maker lowered its annual production guidance to 47,000 to 49,000 vehicles from a previous target of 57,000 vehicles. Rivian said it is experiencing production disruptions due to supply shortages. Vistra – The red-hot utility stock rose 1.8% in premarket trading and is expected to build on its recent rebound. Vistra shares have risen in 18 of the past 19 trading days. CVS Health – Shares of CVS Health rose 1.5% as the company considers a spinoff and conducts a strategic review of its business. CVS, which is dealing with higher-than-expected medical costs in its insurance unit and other issues, is considering spinning off its retail pharmacy and insurance units, a major reversal of the company’s long-standing business strategy. Chubb – Shares of the insurance company fell more than 1% after Bank of America downgraded the stock to underperform from neutral. The company believes the company is growing slower than its peers despite its 29% year-to-date share price gain. SilverCrest Metals — Shares of SilverCrest Metals soared more than 13% after the precious metals producer announced Coeur would acquire the company for an implied stock value of about $1.7 billion. —CNBC’s Jesse Pond, Brian Evans, Hakyung Kim, Pia Singh and Michelle Fox Theobald contributed reporting.
