Australia Health

FedEx, Costco, Boeing and more

News Update - Pre Markets

Check out the companies that make headlines before the call:

FedEx (FDX) – FedEx continues to monitor the situation this morning after announcing a 6.9% increase in shipping rates and plans to cut another $4 billion in annual costs. FedEx fell 3.2% in premarket trading.

Costco (COST) – Costco shed 3.3% in premarket despite reporting higher-than-expected earnings and sales for the latest quarter. The company reported operating margins that were slightly below consensus. Costco said they don’t plan to raise membership prices anytime soon, but said it will at some point.

Boeing (BA) — Boeing will pay $200 million to settle allegations by the SEC that it made misleading statements about safety risks to its 737 MAX aircraft after two planes were involved in fatal air crashes. Former CEO Dennis Muilenburg will pay $1 million as part of the settlement, with both parties neither admitting nor denying wrongdoing. Boeing lost 1.8% in premarket.

Raytheon Technologies (RTX) – Raytheon has won a $985 million Pentagon contract to develop hypersonic attack cruise missile prototypes, beating rivals Boeing and Lockheed Martin (LMT).

CalAmp (CAMP) – The IoT software company surged 3.5% in premarket trading after it posted a smaller-than-expected quarterly loss and revenue beat analysts’ forecasts. CalAmp recorded record software and subscription services revenue during the quarter.

Ally Financial (ALLY) – Shares of the financial services company fell 2.7% in premarket trading after Wells Fargo downgraded its rating to “equal weight” from “overweight.” Wells said Ellie will feel pressure from the Fed’s rate hikes and accelerating declines in used car prices, which are impacting rental yields.

Qualcomm (QCOM) — Qualcomm said its future order book for the automotive business has increased to $30 billion, more than $10 billion more than in July. Growth occurred mainly due to orders for the Snapdragon Digital Chassis computer chip. Qualcomm shares, however, fell 2% in premarket trading.

fuboTV (FUBO), a sports-focused live streaming service, has been upgraded to “superior” from “neutral” in Wedbush, which sees stock at an attractive entry point. Wedbush expressed his confidence that fuboTV will be able to successfully raise capital and slow down the rate at which cash is spent. Shares rose 2% in premarket trading.

Related Articles

Leave a Reply

Your email address will not be published.

Back to top button