FedEx, Costco, Boeing and more


Check out the companies making headlines before the bell:

FedEx (FDX) – FedEx remains under scrutiny this morning after announcing a 6.9% increase in shipping rates and plans to cut an additional $4 billion from annual costs. FedEx fell 3.2% premarket.

Costco (COST) – Costco lost 3.3% in premarket despite better-than-expected earnings and sales for its latest quarter. The company announced operating margins slightly below consensus. Costco said it has no immediate plans to increase subscription prices, but said it will happen at some point.

Boeing (BA) – Boeing will pay $200 million to settle SEC accusations that it made misleading claims about the safety risks of its 737 MAX jet after two of the planes were involved in fatal crashes. Former CEO Dennis Muilenburg will pay $1 million as part of the settlement, with both sides neither admitting nor denying wrongdoing. Boeing lost 1.8% in premarket.

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

CalAmp (CAMP) – The ‘Internet of Things’ software company’s stock rose 3.5% in premarket stock after reporting a weaker-than-expected quarterly loss on revenue that beat forecasts. analysts. CalAmp reported record software and subscription services revenue in the quarter.

Ally Financial (ALLY) – The financial services company’s stock fell 2.7% pre-market after Wells Fargo downgraded it to “equal weight” from “overweight”. Wells said Ally will feel pressure from Fed rate hikes and an accelerated decline in used vehicle prices, which is impacting lease yields.

Qualcomm (QCOM) – Qualcomm said its future automotive business pipeline grew to $30 billion in orders, up more than $10 billion since July. The increase comes mainly from orders for its Snapdragon Digital Chassis computer chip. Qualcomm, however, fell 2% in premarket action.

fuboTV (FUBO) – The sports-focused streaming service has been upgraded to “outperform” from “neutral” at Wedbush, which sees the stock at a compelling entry point. Wedbush said he is confident that fuboTV can successfully raise capital and reduce its cash burn rate. The title gained 2% in pre-marketing.


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