Welcome to Extreme Investor Network, where we provide you with the latest updates and insights in the world of finance. Today, we are highlighting the companies making headlines in premarket trading.
La-Z-Boy saw shares surge more than 9% after exceeding expectations in their latest quarterly results. The furniture company posted fiscal fourth-quarter adjusted earnings of 95 cents per share on revenue of $554 million, beating analysts’ predictions.
Chip stocks were on the rise, with Broadcom, Qualcomm, and Micron Technology all showing gains of over 2%. Nvidia also saw a slight increase after Wells Fargo raised its price target on the leading market player.
NextEra Energy experienced a dip of nearly 5% after announcing plans to sell $2 billion worth of equity units at $50 each. This move includes both a 5% undivided ownership stake in NextEra Energy Capital Holdings and a contract to purchase NextEra stock by June 1, 2027.
Kroger received an upgrade from BMO Capital Markets to outperform from market perform, leading to a 1.7% increase in shares. Analysts believe that the recent pullback has created an attractive entry point for the grocery chain.
Despite reporting strong second-quarter results, Lennar saw shares decline by 3.5%. The homebuilder reported $3.45 in earnings per share on $8.77 billion of revenue, surpassing analyst expectations. However, some concerns were raised regarding Lennar’s third-quarter guidance, which included a projection for new orders to decline quarter over quarter.
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