Wednesday’s Pre-Market Update: Stocks In The News Before The Open

ByGary Kaltbaum

Ralph Lauren (RL) was downgraded to ‘Underweight’ from ‘Neutral’ at Atlantic Equities LP with a price target of $68.

Cavium (CAVM) was rated a new ‘Buy’ at MKM Partners with a 12-month price target of $77.

XPO Logistics (XPO) rallied over 3% in after-hours trading after it reported Q4 adjusted EPS of 24 cents, higher than consensus of 20 cents.

Texas Roadhouse (TXRH) sank 9% in after-hours trading after it reported Q4 revenue of $484.7 million, weaker than consensus of $497.4 million.

Red Robin Gourmet Burgers (RRGB) climbed over 3% in after-hours trading after it reported Q4 adjusted EPS of 35 cents, above consensus of 31 cents.

Cirrus Logic (CRUS) was rated a new ‘Buy’ at MKM Partners with a 12-month target price of $65.

Tribune Media (TRCO) moved up over 2% in after-hours trading after Starboard Value LP said it raised its stake in the company to 6.6% from 2.3%.

First Solar (FSLR) climbed 5% in after-hours trading after it reported Q4 adjusted EPS of $1.24, higher than consensus of 98 cents, and then said it sees full-year net sales of $2.8 billion-$2.9 billion, above consensus of $2.53 billion.

Terex (TEX) slid over 3% in after-hours trading after it lowered guidance on full-year adjusted EPS to 60 cents to 80 cents, weaker than consensus of $1.05.

Wright Medical Group NV (WMGI) gained nearly 3% in after-hours trading after it reported Q4 net sales of $193 million, better than consensus of $183.5 million, and then said it sees full-year revenue of $755 million-$765 million, better than consensus of $755.5 million.

CSRA Inc. (CSRA) raised guidance on full-year adjusted EPS to $2.00-$2.04 from a prior view of $1.98-$2.02.

Yum! Brands (YUM) dropped over 1% in after-hours trading after a block trade of 12 million shares was said to be offered via Morgan Stanley

Papa John’s (PZZA) fell over 1% in after-hours trading after it reported Q4 revenue of $439.6 million, below consensus of $447.4 million.

Global Blood Therapeutics (GBT) dropped 10% in after-hours trading after it announced a $75 million public offering of common stock.

Copart (CPRT) reported Q2 adjusted EPS of 58 cents, better than consensus of 57 cents.

Source: FoxBusiness, Barchart, CNBC, Bloomberg, Reuters