Stocks - Schwab, Ameritrade Rise in Premarket on DoJ News
By Geoffrey Smith
Investing.com -- Stocks in focus in premarket trade on Thursday, June 4th. Please refresh for updates.
Charles Schwab (NYSE:SCHW) stock rose 5.7% after the financial advisor and asset manager said the Department of Justice had ended its investigation of Schwab’s proposed acquisition of TD Ameritrade (NASDAQ:AMTD). The two companies now expect the acquisition to close in the second half of this year. TD Ameritrade stock rose 8.8% on the same news. American Airlines (NASDAQ:AAL) stock rose 8.0% after the U.S.’s biggest airline said it plans to fly more than 55% of its July 2019 domestic capacity. That’s up from some 25% this month. American also said it will boost its international flights schedule next month, to nearly 20% of its July 2019 schedule. American's news also pulled Delta Air Lines (NYSE:DAL) stock up 6.9% and United Airlines (NASDAQ:UAL) stock up 6.1%. Cloudera (NYSE:CLDR) stock fell 10.8%, reversing all of its strong gains on Wednesday, after posting a disappointing outlook for the rest of the year the closing bell on Wednesday. The company also said it lost 20c a share in the last three months, disappointing expectations of a breakeven. Snap (NYSE:SNAP) stock fell 1.2% after the parent company of social network Snapchat said it won't promote the account of President Donald Trump on its homepage, citing fears that it could incite racial violence. Warner Music Group (NASDAQ:WMG) was in focus after rising over 20% on its debut Wednesday. Anecdotal reports quoted the stock at around $31.48, compared to an IPO price of $25 and a closing price on Wednesday of $30.12.
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