2023-04-20 11:10:06
(Updated with futures contracts on indices, results of American Express and Philip Morris, pre-market prices)
PARIS, April 20 (Archyde.com) – Top stocks to watch on Thursday on Wall Street, where futures on major indices suggest an opening down 0.38% for the Dow Jones .DJI, 0.60% for the Standard & Poor’s 500 .SPX and 0.87% for the Nasdaq .IXIC:
* TESLA TSLA.O on Wednesday posted a lower-than-expected first-quarter gross margin, in the wake of a campaign of price cuts for its vehicles intended to fuel demand in a period of economic slowdown and fend off growing competition. The stock was down 7.7% in pre-market trading and NIKOLA NKLA.O, RIVIAN RIVN.O and LUCID LCID.O fell 2.2% to 3.2% in its wake.
* IBM IBM.N beat Wall Street expectations for its first-quarter profit and reported better-than-expected demand for IT services, pushing its stock up 1.8% ahead of the open.
* AT&T TN fell nearly 4% in pre-market after posting quarterly revenue below expectations on Thursday, amid intensifying competition from VERIZON COMMUNICATIONS VZ.N and T-MOBILE US
TMUS.O.
* BLACKSTONE BX.N reported on Thursday distributable earnings per share down 36% in the first quarter, in a context of slowdown in the real estate market. The title yielded 1% in transactions before the opening.
* AMERICAN EXPRESS AXP.N dropped 1.2% in transactions before the opening of Wall Street after the publication of earnings per share for the first quarter of 2.40 dollars against 2.66 expected. However, the group confirmed its financial forecasts for the full year.
* PHILIP MORRIS INTERNATIONAL PM.N – The maker of Marlboro cigarettes on Thursday lowered its profit forecast for the full year, due to higher tobacco leaf prices, energy costs and labor, which weighs on the title down 2% in pre-market.
* ALCOA AA.N fell 3.7% in pre-market after reporting, under the first quarter, a net loss more marked than expected and a turnover below expectations.
* LAS VEGAS SANDS LVS.N – The casino and hotel operator reported higher-than-expected quarterly revenue, benefiting from higher footfall levels in Singapore and Macau.
* BED BATH & BEYOND BBBY.O fell 14.4% in pre-market trading, as the Wall Street Journal reported that the housewares retailer was preparing to file for bankruptcy this weekend.
* ZIONS BANCORPORATION ZION.O – The regional bank was down 4.5% on the market after the publication on Wednesday evening of a quarterly profit below expectations due in particular to an increase in provisions to cover possible losses on credits.
(Laetitia Volga and Claude Chendjou, edited by Matthieu Protard)
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