© Reuters
By Peter Nurse
biedexmarkets.com — Stocks in focus in premarket trade on Tuesday, February 28th. Please refresh for updates.
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Target (NYSE:) stock fell 0.9%, overturning early gains after the retail giant warned about a slowdown as consumers continue to focus on necessities, overshadowing a surprise rise in holiday-quarter sales.
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Chevron (NYSE:) stock rose 1.4% after the raised its yearly stock buyback target rate to $17.5 billion, expecting to see high return production growth that could help offset a recent slip in crude prices.
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Norwegian Cruise Line (NYSE:) stock fell 5.2% after the cruise operator forecast full-year profit below expectations, citing soaring fuel and labor costs.
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Zoom Video (NASDAQ:) stock rose 6.6% after the communications company and forecast upbeat 2024 annual profit saying it will integrate more artificial intelligence into its products.
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Goldman Sachs (NYSE:) stock rose 0.3% ahead of its investors’ day, where the investment bank is expected to unveil its medium-term financial goals.
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Occidental Petroleum (NYSE:) stock fell 0.6% after the oil producer fourth quarter profit expectations and said it would sharply raise spending this year.
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Arconic (NYSE:) stock fell 3.5% after Goldman Sachs downgraded its stance on the aluminum products maker to ‘sell’ from ‘neutral’, citing an uncertain demand outlook in Europe.
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Dish Network (NASDAQ:) stock fell 5% after Bank of America downgraded the telecommunications provider all the way down to ‘underperform’ from ‘outperform’, saying the outlook looks difficult in the months ahead and its shares could fall nearly 20%.
