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Forex news -forex broker review => Forex => Topic started by: PocketOption on Feb 22, 2023, 04:21 am

Title: Stocks making the biggest moves
Post by: PocketOption on Feb 22, 2023, 04:21 am
Stocks making the biggest moves

stocks

Stocks making the biggest moves


U.S. stock futures were lower morning to start a busy holiday week of reduced trading as investors weighed earnings from big retailers and pondered the prospect of higher interest rates.


Walmart


Walmart stock dropped about 4.6% before the bell after it shared a cautious outlook for the year. Consumers are trading up and buying fewer discretionary goods. The share move also came after the retailer’s leader beat expectations on both the top and bottom lines during the holiday quarter.


Home Depot


The retailer’s stock fell 4.5% in premarket trade after Home Depot’s fourth-quarter report showed weaker-than-expected sales. Home Depot reported $3.31 per share on revenue of $35.84 billion. Analysts expected $3.27 per share on revenue of $35.98 billion. Home Depot also expects sales to be flat in the new fiscal year.


Vir Biotechnology


The immunology company jumped nearly 12% after Goldman Sachs upgraded it to buy from neutral. The Wall Street firm believes the stock could double, citing Vir’s flu vaccine data release next year.


AutoNation


The auto dealer fell 2.2% after JPMorgan downgraded it from neutral to underweight. Analyst Rajat Gupta said the firm is becoming overvalued amid declining consumer car demand.


HSBC Holdings


The firm gained about 4.2% after posting fourth-quarter earnings that beat expectations. HSBC cited strong revenue growth and lower operating costs.


Medtronic


The healthcare technology company rose 2.4% after reporting adjusted fiscal third-quarter earnings per share of $1.31, compared to estimates of $1.28, per StreetAccount. Revenue also exceeded expectations.


General Mills


Shares of General Mills rose more than 1.4% before the bell after the Cheerios maker cut its full-year forecast, citing resilient consumer demand.


Generac Holdings


Companies shares fell more than 2.4% after Truist downgraded it from buy. The Wall Street firm cited higher interest rates and higher product prices as significant risks to Generac’s 2023 financials.


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