Constellation Brands, Shell, FedEx rise premarket; Costco falls
By Peter Nurse
Investing.com -- Stocks in focus in premarket trade on Thursday, April 6th. Please refresh for updates.
Costco (NASDAQ: COST) stock fell 2.3% after the wholesaler reported a further slowdown in sales in March, in the latest sign of U.S. consumers tightening their belts.
Constellation Brands (NYSE: STZ) stock rose 0.2% after the brewer of Corona raised its quarterly dividend by 11% even as it reported quarterly revenue short of expectations.
Barclays (NYSE: BCS) ADRs rose 1.5% after the investor advisory firm Glass Lewis recommended shareholders vote against its pay for top bosses because of long-term bonuses awarded to its former finance chief at a time the bank sold billions of pounds of securities in error.
Shell (NYSE: SHEL) ADRs rose 1.2% after the energy giant said its first quarter gas trading will resemble the strong numbers posted in the final three months of 2022.
FedEx (NYSE: FDX) stock rose 1.1% after Raymond James upgraded the delivery giant to ‘outperform’ from ‘market perform’, citing bullish sentiment surrounding its latest investor event in New York.
Polestar (NASDAQ: PSNY) stock rose 2.9% after the Swedish electric vehicle manufacturer said it delivered 12,000 cars in the first quarter, around 26% higher than the previous year.
Pure Storage (NYSE: PSTG) stock rose 2.5% after Wedbush upgraded the data storage company to ‘outperform’ from ‘neutral’, while Super Micro (NASDAQ: SMCI) stock fell 3.3% after Wedbush downgraded the computer hardware manufacturer to ‘underperform’ from ‘neutral’.