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Today's Pre-Market Stock Movers: RAD, NKE, FDX, HTZ and More

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Movers and Shakers wrote a column · Dec 21, 2022 06:51
Gapping up
$Rite Aid(RAD.US)$ +8.4% (The company reported a smaller-than-expected loss and revenue that beat Wall Street forecasts, helped by accelerated sales growth at its retail operations. However, the drugstore operator lowered its full-year guidance due to various issues, including seasonal markdowns.)
$Nike(NKE.US)$ +11.6% (the athletic footwear and apparel maker reported better-than-expected quarterly results and raised its revenue forecast. Discounting during the quarter helped Nike to clear out excess inventory.)
$FedEx(FDX.US)$ +4.5% (The company's profit beat consensus but sales fell short of analyst estimates. Investors were encouraged by the profit beat and by the delivery service’s vow to continue aggressive cost cuts.)
$Six Flags Entertainment(SIX.US)$ +5.5% (The activist shareholder Land & Buildings Investment Management has accumulated a 3% stake in the theme park operator. Land & Buildings has suggested changes to management, including selling or spinning off the company's real estate holdings.)
$BlackBerry(BB.US)$ +1% (Its quarterly revenue beat estimates on strong demand for the company's automotive and security software. BlackBerry also reported a smaller-than-expected quarterly loss.)
Gapping down
$Hertz Global(HTZ.US)$ -2.6% (The National Highway Traffic Safety Administration said it was investigating whether the car rental company rented out vehicles with open recall issues yet to be repaired. NHTSA is seeking additional information from Hertz, which said it will cooperate with the request.)
$Starbucks(SBUX.US)$ -1% (Starbucks was downgraded by Jefferies to hold from buy at Jefferies, which said the coffee chain may be impacted by a pullback in consumer discretionary spending.)
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