Darden, Snowflake, Occidental Petroleum Rise Premarket; Accenture Falls
2022.06.23 15:26
By Peter Nurse
Investing.com — Stocks in focus in premarket trade on Thursday, June 23rd. Please refresh for updates.
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Accenture (NYSE:ACN) stock fell 3.5% after the IT services provider issued disappointing fourth-quarter guidance, expecting a hit from high inflation and the impact of a stronger dollar on its overseas earnings.
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Darden Restaurants (NYSE:DRI) stock rose 5.9% after the company reported better than expected quarterly results as sales jumped, helped in part by the return of its fine-dining business.
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Nike (NYSE:NKE) stock rose 1.6% after the sportswear maker said it is making a full exit from Russia, three months after suspending its operations there.
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Snowflake (NYSE:SNOW) stock rose 5.8% after JPMorgan upgraded its stance on the cloud data provider to ‘overweight’ from ‘neutral’, saying the stock can rally some 30%.
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KB Home (NYSE:KBH) stock rose 3.3% after the home builder reported better than expected quarterly earnings late Wednesday, expecting to achieve its revenue goals this year despite the housing market moderating.
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Ferrari (NYSE:RACE) stock rose 0.7% after the luxury car maker said it had recently installed a new fuel cell plant at its headquarters in Maranello, in a further attempt to become carbon neutral by 2030.
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Tesla (NASDAQ:TSLA) stock rose 1.7%, helped by the overall positive tone despite CEO Elon Musk stating that the electric car manufacturer’s new factories in Texas and Berlin are “losing billions of dollars” as they struggle to increase production because of a shortage of batteries and China port issues.
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Occidental Petroleum (NYSE:OXY) stock rose 3.5% after Warren Buffett’s Berkshire Hathaway bought another 9.6 million shares of the oil company, increasing its stake to 16.3%.
