Check out the businesses making headlines earlier than the bell:
Rite Aid (RAD) – Rite Aid jumped 8.4% within 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 pharmacy operator lowered its full-year steering resulting from numerous points, together with seasonal markdowns.
Nike (NKE) – Nike surged 11.6% within the premarket after the athletic footwear and attire maker reported better-than-expected quarterly outcomes and raised its income forecast. Discounting in the course of the quarter helped Nike to filter out extra stock.
FedEx (FDX) – FedEx rallied 4.5% in premarket buying and selling following its quarterly outcomes, which noticed revenue beat consensus however gross sales fell in need of 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 gathered a 3% stake within the theme park operator. Land & Buildings has advised a number of concepts to administration to reinforce shareholder worth, together with promoting or spinning off the corporate’s actual property holdings.
Hertz (HTZ) – Hertz shares fell 2.6% within the premarket after the National Highway Traffic Safety Administration mentioned 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 extra data from Hertz, which mentioned 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 corporate’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 mentioned the espresso chain could also be impacted by a pullback in client discretionary spending. Starbucks misplaced 1% within the premarket.