Stocks in focus in premarket trade on Thursday, March 25th
- Rite Aid (NYSE:RAD) stock fell 14% after the drugstore chain cut its 2021 fiscal guidance, warning that its bottom line will be hit by a “soft” flu season and the ongoing pandemic.
- RH (NYSE:RH) stock rose 5.1% after the furniture retailer’s fourth quarter beat expectations, as the company continued to profit from strong demand for home goods during the pandemic.
- KB Home (NYSE:KBH) stock fell 4.4% after the homebuilding company disappointed with its first-quarter revenue, despite quarterly orders that beat estimates. The housing boom has shown signs of cooling recently, with drops in housing starts and building permits and rising refinancing rates.
- AstraZeneca (NASDAQ:AZN) ADR fell 0.2% after the drugmaker stated its Covid-19 vaccine was 76% effective in a new analysis of its U.S. trial, only a little lower than the 79% it claimed in an earlier report this week. Its earlier announcement was criticized by a U.S. safety body for using outdated data.
- United Airlines (NASDAQ:UAL) stock fell 0.4% after the airline added more than two dozen nonstop routes from the Midwest to coastal cities, taking a bet on the summer holiday season.
- Nike (NYSE:NKE) stock fell 4.6% with the sportswear company among a number of Western companies under pressure in China, after historical expressions of concern about labor conditions in Xinjiang were reheated by government-owned media.
- Lumentum (NASDAQ:LITE) stock rose 5.8% and II-VI (NASDAQ:IIVI) stock fell 7.1% after laser equipment maker Coherent (NASDAQ:COHR) accepted a bid from II-VI, ending a long-running battle and resulting in Lumentum receiving a breakup fee of over $200 million.
- Darden Restaurants (NYSE:DRI)stock rose 4.5% after the company reported better-than-expected quarterly earnings, even with same-restaurant sales falling over 26% from a year ago.
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