Pre-Open Movers: Glatfelter Sinks on Dividend Cut, General Mills Up on Outlook
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Pre-Open Stock Movers:
Glatfelter Corporation (NYSE: GLT) 14% LOWER; announced that the Board of Directors has suspended the Companys quarterly cash dividend as part of its focused efforts to optimize the operational and financial results of the business.
Stitch Fix (NASDAQ: SFIX) 6% LOWER; reported Q4 EPS of ($0.89), $0.26 worse than the analyst estimate of ($0.63). Revenue for the quarter came in at $481.9 million versus the consensus estimate of $488.74 million. Stitch Fix sees Q1 2023 revenue of $455-465 million, versus the consensus of $522.7 million.
Coty Inc. (NYSE: COTY) 4% HIGHER; expects to double its skincare revenues from FY22 to FY25, maintains FY23 guidance
Cisco (NASDAQ: CSCO) 2% LOWER; Barclays downgraded from Overweight to Equalweight, PT $46.00 (from $56.00).
Micron Technology (NASDAQ: MU) 2% LOWER; Mizuho Securities downgraded from Buy to Neutral with a price target of $56.00 (from $75.00).
Lockheed Martin (NYSE: LMT) 2% HIGHER; defense names gain on Putin's new threats of escalation in Ukraine.
General Mills (NYSE: GIS) 2% HIGHER; reported Q1 EPS of $1.11, $0.12 better than the analyst estimate of $0.99. Revenue for the quarter came in at $4.7 billion versus the consensus estimate of $4.72 billion. Raises Guidance.
Northrop Grumman (NYSE: NOC) 1% HIGHER; defense names gain on Putin's new threats of escalation in Ukraine.
General Dynamics (NYSE: GD) 1% HIGHER; defense names gain on Putin's new threats of escalation in Ukraine.
Raytheon Technologies (NYSE: RTX) 1% HIGHER; defense names gain on Putin's new threats of escalation in Ukraine.
Western Digital Corp. (NASDAQ: WDC) 1% LOWER; Mizuho Securities downgraded from Buy to Neutral with a price target of $40.00.
PayPal (NASDAQ: PYPL) 1% HIGHER; Added to BofA US 1 List,
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