Thursday’s Pre-Market Look: Stocks In The News Before The Open
Finish Line (FINL) was downgraded to ‘Hold’ from ‘Buy’ at Canaccord Genuity.
Akamai Technologies (AKAM) was rated a new ‘Buy’ at Guggenheim Securities with a 12-month target price of $75.
Microsoft (MSFT) was rated a new ‘Overweight’ at Piper Jaffray with a price target of $80.
Cubic (CUB) was initiated with a ‘Buy’ at Drexel Hamilton LLC with a 12-month target price of $58.
Micron Technology (MU) rallied over 9% in after-hours trading after it said it sees fiscal year Q2 adjusted EPS of 58 cents-68 cents, well above consensus of 46 cents.
Bed Bath & Beyond (BBBY) lost over 2% in after-hours trading after it said Q3 comparable same store sales unexpectedly fell -1.4%, weaker than consensus of a +0.5% increase.
Power Integrations (POWI) was rated a new ‘Buy’ at Drexel Hamilton LLC with a 12-month target price of $79.
Herman Miller (MLHR) fell over 6% in after-hours trading after it reported Q2 net sales of $577.5 million, less than consensus of $593 million. and said it sees Q3 EPS of 31 cents-35 cents, weaker than consensus of 46 cents.
Red Hat (RHT) plunged 12% in after-hours trading after it forecast Q4 revenue of $614 million-$622 million, below consensus of $638.2 million, and then lowered guidance on fiscal 2017 revenue to $2.40 to $2.41 billion, less than consensus of $2.42 billion.
Alexion Pharmaceuticals (ALXN) slipped 1% in after-hours trading after its Soliris drug failed to prevent complications in a trial of kidney transplant patients.
CalAmp Corp. (CAMP) dropped nearly 6% in after-hours trading after it reported Q3 adjusted EPS of 21 cents, below consensus of 26 cents.
XOMA Corp. (XOMA) jumped 13% in after-hours trading after it generated up to $22 million through the sale of royalty streams from two license agreements to HealthCare Royalty Partners.
Source: FoxBusiness, CNBC, BarChart, Bloomberg, Reuters