Financial markets were preoccupied with the drama of the EU referendum in Britain early Thursday. But domestic equities stateside saw plenty of movement on their own. Here are five stocks to keep an eye on Thursday.
Bed Bath & Beyond Inc.
The home-goods retailer plunged in after-hours trading following an earnings report Wednesday afternoon that fell well short of Wall Street’s expectations, with earnings of $0.80 per share compared to the $0.86 projected by analysts. The stock (BBBY) was down 4 percent before the bell.
Stock in the media empire rose after a judge declared that board members who were booted by the 93-year-old executive chairman Sumner Redstone could retain their positions. The decision comes amid a bitter dispute over control of the company, which has hinged on Redstone’s competence as a controlling shareholder.
Wall Street approved of the judge’s move. Citigroup raised the price of Viacom stock (VIAB) to $48 from $40. The stock rose 0.5 percent, to $44.25, in premarket trading.
Newfield Exploration Co.
The petroleum and natural gas driller saw its stock bubble up after announcing higher production projections for the rest of the year, owing to an upside surprise in output from its Oklahoma operations. Shares of Newfield (NFX) were up 1.5 percent before the market open.
The software company behind TurboTax and QuickBooks got a boost Thursday from analysts at Goldman Sachs, who raised their outlook on the stock to $123 from $117. Shares in Intuit (INTU) have been on the rise this year, especially since reporting better-than-expected earnings last month. Still, the stock was off in premarket trading.
The trucking corporation was down slightly before the market open after another in a series of downgrades from analysts, most recently from Avondale Partners, which cut the stock to market underperform. Knight (KNX) is facing industrywide headwinds of soft retail demand and excess capacity.