Stock futures were flat on Thursday as investors weighed economic data that pointed to a slowing economy.
These stocks looked set to make the move on Thursday:
Costco Wholesale (COST) was falling 2.7% in premarket trading after the warehouse retailer said same-store sales in March fell 1.1%, down from a 3.5% increase in February. Costco too…
Stock futures were flat on Thursday as investors weighed economic data that pointed to a slowing economy.
These stocks looked set to make the move on Thursday:
Costco Wholesale (COST) was falling 2.7% in premarket trading after the warehouse retailer said same-store sales in March fell 1.1%, down from a 3.5% increase in February. Costco also said the average transaction size in March fell 5.8% from February.
Lumentum Holdings (LITE) said fiscal third-quarter revenue will come in under the low end of the company’s prior guidance range, after disclosing that “the network equipment maker that represented more than 10% of our fiscal second-quarter revenue is” … “will not take the shipments we originally projected for the quarter. The optical-networking components maker raised revenue to $380 million to $384 million from previous guidance of $430 million to $460 million Anticipated third-quarter sales. The stock was down 14.4%. It was downgraded from Buy to Neutral at Rosenblatt.
FedEx (FDX) rose 1% to $232.15 in premarket trading. The stock was upgraded to Outperform from Raymond James with a price target of $285. On Wednesday, the shipping giant increased its annual dividend and announced changes to its corporate structure.
Advertisement – Scroll to continue
Beer and spirits company Constellation Brands (STZ) reported fiscal fourth-quarter adjusted earnings of $1.98, which topped analysts’ expectations of $1.83. Sales of approximately $2 billion fell slightly short of forecasts. The stock rose 0.7% in premarket trading.
Levi Strauss (LEVI) was down 5% in premarket trading. The jeans maker reported fiscal first-quarter earnings of 29 cents per share, down from 48 cents per share a year earlier.
AbbVie (ABBV) declined 1.1% in premarket trading after it cut fiscal year adjusted earnings expectations to $10.62 to $11.02 per share, below guidance the company issued in February of between $10.70 and $11.10. In a regulatory filing, the pharma company said it would record a pretax charge of $150 million, or 8 cents per share, in its first quarter for progress research and development and milestone expenses.
Advertisement – Scroll to continue
Write to Joe Woelfel at [email protected]
Source: www.barrons.com
