At Extreme Investor Network, we are always on the lookout for the latest news and trends in the finance world. Today, we are diving into some of the companies that are making headlines before the bell rings in the trading day.
First up, Walgreens Boots Alliance saw a 1.6% dip in shares following the release of its fiscal second-quarter report. While the company beat revenue expectations, it also narrowed its full-year adjusted earnings guidance due to a challenging retail environment.
On the other hand, Estee Lauder saw shares rise over 3% after a Bank of America upgrade to buy from neutral. The firm cited profitability recovery efforts, new products, and improving share in the prestige beauty sector as reasons for the upgrade.
Meanwhile, Allstate saw a 0.9% rise in its insurance stock following an HSBC upgrade to buy from hold. Analyst Vikram Gandhi highlighted the company’s decisive management actions and a less restrictive regulatory backdrop.
RH, the home furnishings company, saw a surge of over 9% premarket despite missing on top and bottom lines in the fourth quarter. The company is forecasting better-than-expected revenue growth in 2024 thanks to improving demand trends.
In the IT sector, TD Synnex saw shares fall 4.7% after launching a secondary public offering of 9 million common shares. The company also authorized the repurchase of 500,000 shares as part of its existing share purchase program.
Chemours experienced a more significant tumble of over 8% after revealing cooperation with the Securities and Exchange Commission and the U.S. Attorney’s Office concerning internal audit of financial practices. An internal review found executives manipulating cash flows to meet bonus targets.
On the positive side, Vornado Realty Trust saw shares gain 1.2% after Morgan Stanley upgraded the office building REIT to equal weight from underweight. The firm cited improving activity, particularly in New York leasing and occupancy.
Stay tuned to Extreme Investor Network for more updates on the latest market movements and investment opportunities. Our experts are always here to guide you in making informed financial decisions.
