People walk by Walgreens owned by Walgreens Boots Alliance, Inc. in New York City on November 26, 2021.
Andrew Kelly | Reuters
Check out the companies and pre-market deals that are making headlines.
walgreens boots alliance — The drugstore’s share price fell about 2% in the premarket, even after the company reported fiscal first-quarter earnings that beat analyst expectations. The company also revised up its full-year earnings guidance, partly due to the acquisition of Summit Health by its U.S. healthcare unit.
Amazon — Amazon’s stock rose nearly 2% after it announced it would cut 18,000 jobs, making it the latest tech company to cut after expanding rapidly during the pandemic.
western digital — Shares surged more than 5% after Western Digital and Japan’s Kioxia Holdings resumed merger talks, Bloomberg News reported, citing sources familiar with the matter.
silvergate capital — Amid the sector’s “confidence crisis” following the collapse of FTX, cryptocurrency investors have turned to cryptocurrencies after announcing that digital asset deposits fell by $8.1 billion from Sept. 30 through the end of the year to just $3.8 billion. Shares of friendly bank Silvergate Capital fell more than 43%. said it was recorded.
Luminar Technologies — Shares rose more than 4% after the maker of the vehicle ‘Rider’ unveiled new technology, saying it hit its 2022 performance targets at a trade show.
coinbase global — Shares of the crypto services firm fell more than 6% in pre-market trading after Cowen downgraded the stock, citing a difficult macro environment and lingering concerns about FTX’s failure. The downgrade came a day after Coinbase reached a $100 million settlement with the New York Department of Financial Services over shortcomings in its anti-money laundering standards.
Crowdstrike Holdings — Stocks fell more than 2% after Jefferies downgraded stocks from buy to hold, saying 2023 “will be a more challenging fundamental year for growth stocks.” We expect less upside for CrowdStrike from.
Wendy’s — The fast-food chain’s share price fell 2% after it was downgraded from outperforming by Oppenheimer. The firm believes that equity risk/reward and valuation are now fairly balanced.
Shopify — Shares fell more than 2% ahead of the bell after Jefferies downgraded Shopify from buy to hold, citing uncertain macro challenges for e-commerce stocks.
american express — The stock fell 1.48% in the premarket after being downgraded from equal weight to underweight by Stevens on Thursday. Analysts at the firm have lowered their price target to $134 per share from $146 a share, and cut their EPS estimate for 2023 by 8%, concerned that American Express’ cushion is headed for recession.
— CNBC’s Michelle Fox, Yun Li, Tanaya Macheel, and Samantha Subin contributed to the report
