Cisco, Wolfspeed, Ball, Hawaiian Electric, Walmart, and more stock market movers
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Networking giant Cisco Systems reported fourth-quarter earnings and sales that beat analyst estimates.
Gabriel Boyes/AFP via Getty Images
Stock futures traded with slight gains on Thursday after Wall Street closed lower following the release of minutes from the Federal Reserve’s July meeting which indicated that officials think they may have to continue raising interest rates amid a “significant” risk of inflation.
These stocks were poised to make moves Thursday:
Cisco systems
The company (CSCO) announced profits and sales for the fourth quarter of the fiscal year, which exceeded Wall Street estimates, but its expectations for the next fiscal year were mixed. shares
Cisco
It rose 3.2% in pre-market trading after the networking giant showed signs of improving product orders.
wolfspeed
(Wolf) was down 13% after the chip company reported a larger-than-expected loss in its fiscal fourth quarter, and its forecast for an adjusted loss for the first quarter of 60 cents to 75 cents per share was much larger than expected.
ball company.
(Ball) stock rose 5.1% after that
BAE Systems
He said it was Buying a satellite ball business For $5.55 billion. Ball Aerospace is a provider of spacecraft, mission payloads, optical systems and antenna systems.
Hawaii Electric Industries
(HE) stock fell 14% in pre-market trading after the Wall Street Journal reported that the interest was In talks with restructuring companies To explore options for addressing the financial and legal challenges arising from the wildfires in Maui.
Walmart
(WMT) Analysts expect second-quarter earnings of $1.71 per share on revenue of $160.2 billion. The report from the world’s largest retailer is expected before the stock market opens. The stock rose 1.2% in pre-market trading.
American Depositary Receipts
Bilibili
(BILI), the China-based video-sharing company, rose 7.2% after the company reported a smaller-than-expected quarterly loss and growth in average daily active users.
Other companies scheduled to report earnings on Thursday include:
Applied materials
(AMAT),
Ross Stores
(rust),
Keysight Technologies
(keys),
texture
(TPR) and
Bill.com
(invoice).
Adobe
(ADBE) shares rose 2.2% to $525.66 in pre-market trading after analysts at Bank of America Securities raised their recommendation on shares of the software company to buy from a neutral and raised the share price target to $630 from $575.
United States Steel
(X) rose 0.3% after a report
Arcelor Mittal
(MT), one of the largest steel companies in the world, was considering making a bid for US Steel.
Cleveland Cliffs
(CLF) and the privately owned Esmark Steel Service Center are two confirmed bidders for US Steel. Both bids are $35 a share. the
Cleveland Cliffs
The bid is cash and inventory. Esmark’s offer is all in cash.
Write to Joe Woelfel at joseph.woelfel@barrons.com
