October 3, 2022

Raven Tribune

Complete News World

FedEx, Costco, Boeing and more

FedEx, Costco, Boeing and more

Check out the companies making headlines before the bell:

FedEx (FDX) – FedEx is still on the lookout this morning after announcing a 6.9% increase in shipping rates and Plans to cut another $4 billion in annual costs. FedEx fell 3.2% in the primary market.

costco (COST) — Costco lost 3.3% in premarket despite reporting better-than-expected earnings and sales for the fourth quarter. The company reported operating margins just below consensus. Costco said it had no immediate plans to raise membership prices, but said it would happen at some point.

Boeing (BA) – Boeing will pay $200 million to Settlement of SEC Fee It made misleading claims about the safety risks of its 737 Max plane after two planes suffered fatal accidents. Former CEO Dennis Muilenburg will pay $1 million as part of the settlement, with neither party admitting nor denying any wrongdoing. Boeing lost 1.8% in the primary market.

Raytheon Technologies (RTX) – Raytheon has won a $985 million contract with the Pentagon to develop prototypes for hypersonic attack cruise missiles, beating competitors Boeing and Lockheed Martin (LMT).

calambe (CAMP)–The Internet of Things software company’s stock rose 3.5% in premarket activity after it reported a smaller-than-expected quarterly loss with revenue that beat analysts’ expectations. CalAmp saw record revenue from software and subscription services during the quarter.

Financial Ally (ALLY) — The financial services company’s stock fell 2.7% in the primary market after Wells Fargo cut it to “equal weight” from “overweight.” Wells said Ally will feel pressure from higher federal interest rates and an accelerated decline in used car prices, affecting rental yields.

See also  Bank of England raises interest rates to 2.25%

Qualcomm (QCOM) — Qualcomm said its future auto business pipeline has increased to $30 billion in orders, up more than $10 billion since July. The increase came mainly from orders for the Snapdragon Digital Chassis computer chip. However, Qualcomm is down 2% in pre-market activity.

fuboTV (FUBO) — The sports-focused streaming service has been upgraded to Wedbush’s “Outstanding Performance” from “Neutral,” which sees the arrow at a compelling entry point. Wedbush expressed confidence that fuboTV could successfully raise capital and reduce the rate of cash burn. The stock is up 2% in the primary market.