By Geoffrey Smith
Investing.com -- Stocks in focus in premarket trading on Thursday, 17th March. Please refresh for updates.
- Accenture (NYSE:ACN) stock rose 3.4% to its highest in a month after its outlook for the current quarter outstripped expectations. A caveat that this didn’t allow for any escalation of hostilities in Ukraine was greeted with indifference.
- Dollar General (NYSE:DG) stock rose 2.3% after it forecast sales and profit for 2022 above estimates and raised its cash dividend by 31%. The discount retailer said the rising cost of living is likely to make Americans more frugal and look for cheaper groceries and household supplies.
- Warby Parker (NYSE:WRBY) stock fell 19% after the company reported a sharply wider net loss for the last quarter. Its forecast for 2022 revenue was also more than 5% below consensus, putting a dent in an investment case that rests on fast growth projections.
- Guess? (NYSE:GES) stock rose 3.6% after the company again rebutted the proposals of activist shareholder Legion.
- Alibaba (NYSE:BABA) ADRs paused for breath after a 36% rise on Wednesday in response to promises of more supportive regulation in future from Chinese vice-premier Liu He. Other Chinese ADRs also eased off, although a number of banks including Credit Suisse (SIX:CSGN) raised their outlook for the asset class.
- Exxon Mobil (NYSE:XOM) stock rose 2.1% and Chevron (NYSE:CVX) stock rose 1.7% as crude oil prices surged back above $100 a barrel in response to the Kremlin playing down talk of a quick peace in Ukraine.
- Canadian Pacific (NYSE:CP) stock fell 0.8% after the railroad operator warned it would begin a lockout on Sunday in an effort to force a resolution to an ongoing labor dispute. It had hit a nine-month high on Wednesday.
- Nutrien (NYSE:NTR) stock rose 2.1% after the Canadian potash fertilizers giant said it will increase production this year, partially offsetting an expected shortfall in output from its biggest rivals in Russia and Belarus due to sanctions.
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