FedEx, GameStop Fall in Premarket; Boeing Rises

  • Stock Market News
FedEx, GameStop Fall in Premarket; Boeing Rises
Credit: © Reuters.

By Geoffrey Smith -- Stocks in focus in premarket trading on Friday, 18th March. Please refresh for updates. 

  • GameStop (NYSE: GME ) stock fell 7.4% after it reported a surprise loss of $148 million for the fourth quarter , despite beating street forecasts for revenue; it also withheld guidance for the current year but said it hopes to have its planned marketplace for NFTs up and running by the end of the second quarter.
  • FedEx (NYSE: FDX ) stock fell 3.3% after the company narrowly missed forecasts for earnings in its fiscal third-quarter, held back by staff shortages and other problems arising from the wave of Omicron-variant Covid-19. The company reinstated its earlier full-year guidance after having lowered it in December.
  • Boeing (NYSE: BA ) stock rose 1.6% after Reuters reported that the aerospace giant is in advanced talks with Delta Air Lines (NYSE: DAL ) over an order for 100 of its 737 MAX 10 aircraft. The order would be one of the largest signed since the 737 MAX regained its freedom to fly from U.S. and international regulators. Delta stock fell 1.0%.
  • Xpeng (NYSE: XPEV ) ADRs rose 1.0% after the Chinese company said it will raise the price of its electric vehicles from next week by between $1,600 and $3,100. That mirrors a similar move by Tesla (NASDAQ: TSLA ) after a surge in the price of battery metals over recent weeks.
  • Moderna (NASDAQ: MRNA ) stock rose 2.1% after reports that it has asked the U.S. Food and Drug Administration for emergency approval for a second booster shot of its Covid-19 vaccine. The stock has risen over 30% in recent weeks on hopes that it may yet get the chance to distribute its vaccine in China.
  • General Electric (NYSE: GE ) stock was down 0.2%, unimpressed by the news of a pay cut for chief executive Larry Culp.
  • Occidental Petroleum (NYSE: OXY ) stock was down 0.4%, while Airbus ADRs were down 1.3%, after the two companies announced a deal under which Airbus (OTC: EADSY ) will help to finance the construction of Occidental’s Carbon Capture and Storage plant in the Permian oil basin. Occidental’s ‘direct air capture’ facility has a goal of removing 1 million tons of CO2 from the atmosphere per year, equivalent to the emissions from almost 200,000 cars.

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