Novavax, Campbell Soup, Western Digital Rise Premarket; Affirm, Credit Suisse Fall By Investing.com

By Peter Nurse

Investing.com — Stocks in focus in premarket trade on Wednesday, June 8. Please refresh for updates.

• Novavax (NASDAQ:) stock soared 9.8% after the drugmaker’s two-dose COVID-19 vaccine took a huge step toward regulatory authorization in the U.S, with the Food and Drug Administration panel voting that its benefits outweigh its risks.

• Affirm (NASDAQ:) stock fell 4.6% after Wedbush initiated coverage on the ‘buy now, pay later’ fintech at ‘underperform’, saying it can drop another 40% as rates rise and economic growth slows.

• Credit Suisse (NYSE:) stock fell 5.6% after the Swiss lender warned it will likely slide to a group-wide loss in the second quarter, citing “challenging” market conditions that have led to weakness at its key investment banking division.

• Campbell Soup (NYSE:) stock rose 4.1% after the food company raised its annual core sales forecast on Wednesday, benefiting from higher prices and robust demand for its produce.

• Spirit Airlines (NYSE:) stock fell 1% after the carrier said it has postponed to June 30 a shareholder meeting to vote on the proposed merger agreement with Frontier Group (NASDAQ:).

• Bilibili ADRs (NASDAQ:) rose 8.2%, Alibaba ADRs (NYSE:) rose 4.1% and Tencent ADRs (OTC:) climbed 2.3% after China approved a second batch of video games this year, reviving hopes of a more liberal attitude in the country’s stance toward internet firms.

• Western Digital (NASDAQ:) stock rose 4.2% after the memory storage devices maker said it was reviewing options, including splitting its flash-memory and HDD businesses.

• Dutch Bros (NYSE:) stock fell 2.5% after JPMorgan downgraded its stance on the coffee chain to ‘neutral’ from ‘overweight’, saying customers may reduce arbitrary spending given the hot inflation.