By Geoffrey Smith
Investing.com -- Stocks in focus in premarket trading on Thursday, April 2nd.
- Carnival (NYSE:CCL) stock was down 10.6% at $7.87 a share after it struggled to fund buyers for the equity portion of its capital increase. That’s below the $8 pricing it announced earlier.
- The company sold only $500 million of stock, rather than the $1.25 billion hoped for. It consequently had to raise more through the debt markets, leaving itself considerably more leveraged than it intended to be.
- Oil and gas stocks were broadly higher as crude prices bounced after President Donald Trump said he expected a peace deal between Saudi Arabia and Russia within a few days.
- Occidental Petroleum (NYSE:OXY) stock was up 8.0%, while Exxon Mobil (NYSE:XOM) stock was up 4.7% and Chesapeake Energy (NYSE:CHK) stock was up 9.9%.
- Boeing (NYSE:BA) stock was up 0.6% after The Wall Street Journal reported that it intends to offer buyouts across its workforce in an effort to keep costs under control.
- Zoom Video (NASDAQ:ZM) stock was down 5.7% amid growing concerns about its data privacy policies, despite an update that confirmed the company’s stellar success in riding the working-from-home boom.
- Zoom said that its average daily users had risen to 200 million from a maximum of 10 million before the Covid-19 crisis.
- SoftBank ADRs (OTC:SFTBY) were up 3.9% after the company refused to go ahead with the planned cash out of WeWork’s founder Adam Neumann and other early shareholders.
- PVH (NYSE:PVH), the owner of the Calvin Klein and Tommy Hilfiger brands, was up 4.6% after the company reported better-than-expected earnings for the fourth quarter.
- Walgreens Boots Alliance (NASDAQ:WBA) stock was down 2.4% after the company chose not to give guidance for the year in its latest update because of the Covid-19 pandemic. Sales and profits through Feb. 29 were slightly ahead of expectations, however.
- Shopify (NYSE:SHOP) stock was down 6% after the company suspended its guidance for the rest of the year.
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