An exterior view of a Bed Bath & Beyond store on February 7, 2023 in Clifton, New Jersey.
Kena Betancur | Corbis News | Getty Images
Check out the companies making headlines before the bell.
Nikola – The electric truck maker fell 5% after it announced plans to raise $100 million through a secondary stock offering, or a private sale of stock if needed.
Virgin Orbit — Virgin Orbit shed nearly 43% after announcing that it would halt operations “for the foreseeable future” as it fails to secure funding. Virgin Orbit also said it will eliminate about 90% of its workforce.
Digital World Acquisition — The SPAC linked to former President Donald Trump surged as much as 19% in premarket trading on Friday. The lift comes after a New York grand jury formally indicted Trump on charges related to “hush money” payments made before his 2016 campaign for president.
BlackBerry — Shares fell about 2% after the software company posted fourth-quarter revenue that fell slightly short of consensus estimates. The company’s top line came in at $151 million, while analysts polled by StreetAccount had forecast revenue of $154 million.
Generac Holdings — The power systems provider fell 3.7% following a downgrade to underperform from neutral by Bank of America. The firm said Generac’s guidance for the 2023 fiscal year seems out of reach with its residential segment pressured.
Regional bank stocks — Some regional bank stocks that have been volatile in recent weeks rose Friday. Shares of First Republic gained 1.7%, while Zions Bancorporation, PacWest and KeyCorp added about 0.6% each. The SPDR S&P Regional Banking ETF inched 0.4% higher. UBS noted that bank borrowings from the Fed declined last week, a sign that liquidity issues may be under control following a difficult month for the broader sector.
— CNBC’s Alex Harring and Brian Evans contributed reporting
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