Micron, Peloton, GameStop, Workday, Nike, CarMax, and More Stock Market Movers
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Fiscal fourth-quarter revenue at chip maker Micron fell sharply from a year earlier.
Courtesy Micron
Stock futures were mostly higher Thursday as oil prices surged and the yield on the 10-year Treasury remained near levels last seen in 2007.
These stocks were poised to make moves Thursday:
Micron Technology
(MU) reported a fiscal fourth-quarter adjusted loss that was narrower than analysts’ expectations but revenue of $4.01 billion fell sharply from $6.64 billion a year earlier. The chip maker forecast a wider-than-estimated first-quarter loss of $1 to $1.14 a share. The stock declined 4.8% in premarket trading.
Peloton Interactive
(PTON) surged 12% after signing a five-year deal with
Lululemon Athletica
(LULU), which will stop selling its Studio Mirror exercise screen. Peloton will become Lululemon’s exclusive provider of digital fitness content, while Lululemon will become Peloton’s primary apparel partner.
GameStop
(GME) rose 6.7% in premarket trading after the videogame retailer named Ryan Cohen as president and chief executive, effective immediately. Activist investor Cohen was appointed executive chairman of
GameStop
in June.
Workday
(WDAY) was down 9.9% after the cloud-software company at an investor presentation lowered its target for annual subscription revenue growth to a rate of between 17% and 19% over the next three years from 20%-plus.
Jefferies Financial
(JEF) reported fiscal third-quarter of 22 cents a share on revenue of $1.18 billion, down from $1.51 billion a year earlier. Shares fell 1.2%.
Earnings reports are expected Thursday from
Accenture
(ACN),
Nike
(NKE),
Jabil
(JBL),
CarMax
(KMX), and
BlackBerry
(BBY).
Write to Joe Woelfel at joseph.woelfel@barrons.com
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