Johnson&Johnson, FedEx and ConAgra Foods rise premarket; UBS falls
By Peter Nurse
Investing.com -- Stocks in focus in premarket trade on Wednesday, April 5th. Please refresh for updates.
Johnson & Johnson (NYSE: JNJ) stock rose 2.7% after a unit of the consumer healthcare giant refiled for bankruptcy protection as part of a deal that offered to pay $9 billion, over 25 years, to settle long-running allegations that its talc products caused ovarian cancer.
FedEx (NYSE: FDX) stock rose 2.9% after the delivery giant announced it will consolidate its operating companies into one organization to cut costs and increase efficiency.
ConocoPhillips (NYSE: COP) stock rose 0.7% after Societe Generale upgraded its stance on the oil major to ‘hold’ from ‘sell’ in the wake of sharp rise in crude prices after the OPEC+ production cut announcement.
UBS (NYSE: UBS) stock fell 0.3% after Chairman Colm Kelleher addressed shareholders at the bank's annual shareholder meeting for the first time since the takeover of rival Credit Suisse (NYSE: CS), saying the integration will take up to four years.
- ConAgra Foods (NYSE: CAG) stock rose 1.4% after the packaged foods company beat quarterly estimates and raised its full-year guidance.
- Walmart (NYSE: WMT) stock fell 0.3% after the retail giant said it expects about 65% of its stores to be serviced by automation by the end of its fiscal year 2026.
Boeing (NYSE: BA) stock fell 0.2% after Northcoast Research downgraded its stance on the aircraft manufacturer to ‘sell’ from ‘neutral’ ahead of its quarterly earnings later this month.
World Wrestling Entertainment (NYSE: WWE) stock fell 0.5% after Benchmark downgraded its stance on the wrestling entertainment group to ‘hold’ from ‘buy’ after it agreed to be merged with Endeavor-owned (NYSE: EDR) UFC, to form a new global live sports and entertainment company.