Check out the companies making headlines before the bell. Wayfair – Shares of the digital home goods retailer rose nearly 12% premarket after the company said it would lay off 13% of its global workforce, including 19% of its corporate team, to cut management levels and cut costs. This is Wayfair's third restructuring since 2022 and is expected to save the company about $280 million. Hertz – Hertz fell 2.8% after Jefferies cut its price target and downgraded it to “hold” from “buy.” The company said electric vehicle repair problems and depreciation costs would limit the company's near-term profitability, even as Hertz plans to sell about a third of its electric vehicle fleet and reinvest in gasoline vehicles instead. Spirit Airlines – Shares rose nearly 18% after the budget airline said it expects fourth-quarter revenue at the top end of its previous forecasts, thanks to strong bookings. Spirit also expects operational expectations to be better than expected. Shares have plunged 62% in the week so far after a judge blocked its merger with JetBlue Airways. iRobot, Amazon – Shares of iRobot fell nearly 35% after a Wall Street Journal report said EU antitrust regulators plan to reject Amazon's proposed takeover of the company. Meanwhile, Amazon shares rose 0.6%. Texas Instruments – Shares rose 2.1% after UBS raised its rating on the stock to buy and raised its price target. The company is likely to be among the first of its competitors to experience higher order intake due to its lower dependence on sales. The company had also raised its revenue forecast for this year and 2025. Shares of Nvidia, Advanced Micro Devices – Semiconductor rose again on Friday. Nvidia rose 1.7% after Wells Fargo called it a “clear beneficiary” of Meta's AI infrastructure buildout. AMD rose 1.6% after hitting its highest closing price ever on Thursday amid increased investor interest in the second-largest standalone GPU maker. DraftKings – Shares of the sports betting company rose more than 1% after Stifel upgraded DraftKings to “buy” from “hold.” The investment firm said DraftKings appears fundamentally strong despite competition from ESPN Bet. JB Hunt Transport Services – Shares rose more than 3% after the company reported mixed quarterly results. Earnings came in at $1.47 per share, falling short of the $1.75 that analysts surveyed by LSEG had expected. The company reported revenue of $3.30 billion, beating analysts' expectations of $3.28 billion. JB Hunt reported a year-over-year decline in intermodal sales, but said volumes rose 6%. —CNBC's Tanaya Macheel, Samantha Subin and Jesse Pound contributed reporting.
