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Latest Business News
Stocks Making Moves in Premarket Trading
Walgreens Boots Alliance
Walgreens Boots Alliance saw a decrease of about 7% in premarket trading after the company lowered its full-year earnings guidance. The previous forecast of $4.45 - $4.65 per share was lowered to $4 - $4.05 per share. Furthermore, the company reported adjusted earnings per share for its fiscal third quarter of $1, which missed the Refinitiv forecast of $1.07.
Kellogg
Kellogg's shares rose 2.5% in premarket trading after receiving an upgrade from Goldman Sachs to buy. The reason behind Kellogg's "mispriced" status is attributed to its potential for growth opportunities.
Lordstown Motors
Lordstown Motors shares tumbled 61% in premarket after the company filed for bankruptcy protection and sued Taiwan's Foxconn due to a deal that came apart.
Delta Air Lines
Delta Air Lines forecast full-year adjusted earnings of $6/share in its investor day, boosting the stock by around 1% in premarket trading. The company cited strong demand and customer trading as reasons for optimism.
American Equity Investment Life
After Bloomberg reported Canadian investment firm Brookfield was close to acquiring American Equity Investment Life for around $4.3 billion, the stock rose 15% in premarket trading.
Eli Lilly
Eli Lilly's shares gained 1.5% in premarket trading after the company released clinical results that showed its experimental drug helped patients lose up to 24% of their weight after nearly a year.
Host Hotels & Resorts
Host Hotels & Resorts saw a nearly 2% decrease in shares following a downgrade by Morgan Stanley to underweight from equal weight. The reason behind the decision is due to expected deteriorating trends in key markets and increasing competitive supply versus its peer group.
The stock market is a volatile place, with stocks moving up and down on a daily basis. New businesses need to be aware of the impact that stock market changes can have on their industry and overall operations. In this premarket trading analysis, some companies found themselves in good graces, while others saw their stocks tumble down. Of note, Kellogg received an upgrade due to its potential for growth opportunities, while Lordstown Motors filed for bankruptcy and saw a 61% decrease in its stocks. These events show the importance of monitoring stock market activity, and adjusting your business strategy accordingly.
For a new business, it’s crucial to keep an eye on industry trends, such as Walgreens Boots Alliance’s full-year earnings guidance decrease, and how it could impact your business. On the other hand, American Equity Investment Life’s stock rose after Bloomberg reported that the company would be acquired by a Canadian investment firm, Brookfield, for $4.3 billion. As in any industry, supply and demand factors play a part and in the case of Host Hotels & Resorts, the stock went down due to expected deteriorating trends in key markets and increasing competitive supply vis-a-vis its peer group. Overall, understanding stock market movements and how they may affect a new business is crucial for success.
