Stock Groups

FedEx, Adobe Fall Premarket; General Mills Rises By


© Reuters.

By Peter Nurse — Stocks in focus in premarket trade on Wednesday, September 22nd. For the latest updates, please refresh.

  • FedEx (NYSE:) stock fell 6% after the delivery company reported disappointing first-quarter earnings, citing supply chain issues and a labor crunch. The company also lowered its full year earnings forecast. 

  • DraftKings (NASDAQ:) stock rose 0.3% after the sports gambling company increased its bid for U.K.-based Entain to over $16 billion, prompting fears it could be overpaying. This concern led to the stock dropping more than 7 percent on Tuesday.

  • General Mills (NYSE:) stock rose 3% after the foods giant reported better-than-expected first-quarter sales, helped by strong growth in its pet foods business.

  • Stitch Fix (NASDAQ:) stock soared over 12% on the back of the online personal styling service reporting strong quarterly earnings, with the company citing healthy growth in its women’s and kids’ categories.

  • Hyatt Hotels (NYSE:) stock fell 2.7% after the hotel chain announced it will offer 7 million shares of its common stock to help fund its pending acquisition of Apple (NASDAQ:) Leisure.

  • Adobe (NASDAQ:) stock fell 3.7% after the software company announced that annual recurring revenue, a metric that shows how much revenue the company will get based on subscriptions, showed slowing growth in its third-quarter release.

  • Walt Disney (NYSE:) stock rose 0.9% after Credit Suisse (SIX:) reiterated its ‘outperform’ rating on the entertainment giant, saying the recent selloff is overdone and it can rebound nearly 30%. The selloff had been triggered by the company’s warning of slowing subscriber growth for its Disney+ streaming channel.

  • SoFi Technologies (NASDAQ:) stock rose 4.7%, helped by Jefferies (NYSE:) initiating coverage of the personal finance app at ‘buy’, saying it’s still early in its growth cycle and it can rise more than 60%.


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