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FedEx, Uber, GE, NCR and Gap Drop Premarket

AuthorPeter Nurse
Published 09/16/2022, 07:34 AM
Updated 09/16/2022, 07:34 AM
© Reuters.

By Peter Nurse

Investing.com -- Stocks in focus in premarket trade on Friday, September 16th. Please refresh for updates.

  • FedEx (NYSE:FDX) stock slumped 20% after the delivery giant pulled a financial forecast it had issued just three months ago, expressing concerns slowing global growth will dent shipping volumes.

  • Uber (NYSE:UBER) stock fell 3.9% after the ride-hailing company said it was in touch with the law enforcement agencies after a hacker claimed widespread access.
  • General Electric (NYSE:GE) stock fell 4.3% after CFO Dybeck Happe said the industrial conglomerate was still grappling with supply chain bottlenecks which have made it tougher to deliver products to customers on time.

  • Gap (NYSE:GPS) stock fell 1.1% after Kanye West announced he was seeking to terminate the partnership between his Yeezy company and the apparel chain, saying it failed to meet its obligations under the contract.

  • NCR (NYSE:NCR) stock fell 17% after the tech company announced plans to separate into two independent publicly traded companies.

  • Adobe (NASDAQ:ADBE) stock fell 2.4% after Bank of America downgraded the software company to ‘neutral’ from ‘buy’, saying it’s looking for clarity on its latest acquisition.

  • Bed Bath & Beyond (NASDAQ:BBBY) stock fell 1.8% with the struggling home goods retailer set to close about 150 stores as it works to stabilize its finances.

  • Invesco (NYSE:IVZ) stock fell 0.9% after the U.S. asset manager's Chinese joint venture flagged economic risks ahead even while attracting $5.4 billion from local investors in the first half of the year.

Latest comments

FedEx troubles are long before the start of the recession.. the truth is how can 19 year old kids straight from India with less than 2 months work experience be promoted to be managers in the warehouse.. the truth is nepotism destroyed FedEx.. the managers hire exclusively family and friends, which caused a massive internal theft of stealing customers packages and family and friends gets paid more than "other" workers how can someone with no experience start on level 2 or 3 pay grade and they bring no work ethics and value to the company.. most of them stands around talking, goofing around instead of working on company's time, while "other" workers start on pay grade level 1 they work their butts off for that 80cents raise. that is why FedEx is in massive trouble. until they review and fire those who plays nepotism and conflict of interests... the company will have a hard time to survive
Welcome to Communism. Americans will now feel first hand what Latin American countries go through under communist governments. High inflation, misery and hunger is the equality that every communist preaches to the people, so they communist rulers live in their castles with the people's money. In Brazil we have the best president of all time Jair Messias Bolsonaro.
Looks like we're in for a day of magic and miracles in the laughingstock of the financial world.  The loss prevention team will be on high alert, flipping breakers at precise times of the day.  They no longer have to conceal the fraud and criminal manipulation, and it's as in-your-face as ever.
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