Investing.com - Stocks in focus in pre-market trade Thursday:
• Walgreens (WBA) stock dropped 1.36% by 8:32 AM ET (12:32 GMT) even though its fiscal third quarter results beat on both the top and bottom line. Comparable retail sales fell 3.8% while comparable pharmacy sales were unchanged from the same quarter a year earlier.
• Amazon (AMZN) stock gained 0.31% as its senior vice president of world-wide operations Dave Clark announced that the firm would beef up its delivery network by inviting entrepreneurs to form small delivery companies employing up to 100 drivers and leasing between about 20 and 40 Amazon-emblazoned vans for the last-leg of deliveries.
• Pier 1 Imports (PIR) stock crashed 16.67% as the company reported an 8.2% decline in same-store sales, worse than the expected 7.7% decrease.
• Bed Bath & Beyond (BBBY) stock fell 4.96% as quarterly same-store sales declined 0.6%, missing consensus that was looking for 0.1% growth.
• Marvell Technology (MRVL) soared 8.90% as its merger with Cavium received approval from Chinese regulators. Shares in Cavium gained 5.7%.
• Madison Square Garden (MSG) stock jumped 9.30% after announcing that it would explore the idea of spinning off its sports franchises into a separate, public company.
• Accenture (ACN) rose 2.62% as the firm registered a 16% gain in fiscal third quarter revenue and an 18% increase in pro forma earnings per share, beating consensus on both counts.