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Eli Lilly, Accenture Rise Premarket; Beyond Meat Falls

Stock MarketsJun 24, 2021 08:08AM ET
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© Reuters.

By Peter Nurse 

Investing.com -- Stocks in focus in premarket trade on Thursday, June 24th. Please refresh for updates.

  • Eli Lilly (NYSE:LLY) stock rose 7.6% after the drugmaker’s Alzheimer’s treatment received breakthrough therapy designation from the FDA, which seeks to speed up the approval process for medicines.

  • Darden Restaurants (NYSE:DRI) stock rose 0.1% after the owner of Olive Garden and other chains beat expectations for the latest quarter, with same-restaurant sales almost doubling compared to the year-ago quarter, which was in the middle of the pandemic.

  • Accenture (NYSE:ACN) stock rose 4.4% after the consulting firm reported strong third-quarter results as the pandemic boosted demand for its digital, cloud and security services. It also raised its full-year forecasts.

  • Wells Fargo (NYSE:WFC) stock rose 0.5%, Bank of America (NYSE:BAC) stock rose 0.5%, Morgan Stanley (NYSE:MS) stock rose 0.4%, Goldman Sachs (NYSE:GS) stock rose 0.7% and JPMorgan Chase (NYSE:JPM) stock rose 0.8% ahead of the release of the latest Federal Reserve stress tests, which could result in the banks being allowed to engage in share buybacks and pay dividends.

  • Beyond Meat (NASDAQ:BYND) stock fell 1.9% after JPMorgan reported that fast food chain Dunkin' Donuts was no longer offering a Beyond Sausage sandwich, a blow to the faux-meat supplier.

  • KB Home (NYSE:KBH) stock fell 3.1% after the homebuilder missed expectations with its fiscal second-quarter results, as orders suffered from coronavirus-led disruptions that it  forced to shutter some operations.

  • Steelcase (NYSE:SCS) stock rose 5.2% after the office furniture reported a 15% rise in sales in the latest quarter as workers returned to their offices in the wake of pandemic restrictions being eased.

  • MGM Resorts (NYSE:MGM) stock rose 2.5% after Deutsche Bank (DE:DBKGn) upgraded its recommendation on the casino operator to ‘buy’ from ‘hold’, citing the economic reopening, and of the Las Vegas strip in particular, and the continued growth of online gambling.

  • Bed Bath & Beyond (NASDAQ:BBBY) stock rose 5.8% after Bank of America reinstated a ‘buy’ rating on the retail chain, saying investors can get involved once more now it no longer appears to be a meme favorite, subject to wild swings.

  • Dollar Tree (NASDAQ:DLTR) stock fell 1.1% after Piper Sandler downgraded its recommendation on the chain of discount stores to ‘neutral’ from ‘overweight’, saying rising inflation will eat into its margins.

  • Canada Goose (NYSE:GOOS) stock rose 1.7% after the winter clothing manufacturer said it would stop using fur with its products by the end of 2022.

  • Penn National Gaming (NASDAQ:PENN) stock rose 3.2% after the casino operator announced plans to raise $400 million via eight-year senior unsecured notes in a private offering, as well an optimistic second-quarter revenue update.

 

Eli Lilly, Accenture Rise Premarket; Beyond Meat Falls
 

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