Check out the corporations making headlines earlier than the bell:
Rite Aid (RAD) – Rite Aid jumped 8.4% in the premarket after reporting a smaller-than-expected loss and income that beat Wall Street forecasts, helped by accelerated gross sales development at its retail operations. However, the drugstore operator lowered its full-year steerage as a result of varied points, together with seasonal markdowns.
Nike (NKE) – Nike surged 11.6% in the premarket after the athletic footwear and attire maker reported better-than-expected quarterly results and raised its income forecast. Discounting throughout the quarter helped Nike to filter out extra stock.
FedEx (FDX) – FedEx rallied 4.5% in premarket buying and selling following its quarterly results, which noticed revenue beat consensus however gross sales fell wanting analyst estimates. Investors have been inspired by the revenue beat and by the supply service’s vow to proceed aggressive value cuts.
Six Flags (SIX) – Six Flags gained 5.5% in premarket motion on information that activist shareholder Land & Buildings Investment Management has collected a 3% stake in the theme park operator. Land & Buildings has prompt adjustments to administration, together with promoting or spinning off the firm’s actual property holdings.
Hertz (HTZ) – Hertz shares fell 2.6% in the premarket after the National Highway Traffic Safety Administration stated it was investigating whether or not the automotive rental firm rented out automobiles with open recall points but to be repaired. NHTSA is looking for further data from Hertz, which stated it is going to cooperate with the request.
BlackBerry (BB) – BlackBerry gained 1% in premarket buying and selling after its quarterly income beat estimates on sturdy demand for the firm’s automotive and safety software program. BlackBerry additionally reported a smaller-than-expected quarterly loss.
Starbucks (SBUX) – Starbucks was downgraded by Jefferies to carry from purchase at Jefferies, which stated the espresso chain could also be impacted by a pullback in client discretionary spending. Starbucks misplaced 1% in the premarket.
