PEP is one of the stocks to watch and is trading at $167.69 as of 08:55 AM EDT
On Friday, stocks rebounded in spite of concerns over the economy and the Federal Reserve, although several stocks seemed to attract attention during the day from company-specific news. Here are some stocks to watch on Friday:
Stocks to Watch:
Despite providing an unimpressive Q1 forecast as part of the company’s most recent earnings release, Micron (NASDAQ:MU) advanced in premarket trade. The business added that it would reduce spending starting in 2023. According to a separate statement from Japanese officials, MU will receive up to $322 million in funding from the nation to build sophisticated memory chips at a factory in Hiroshima.
Athletic gear manufacturers saw pressure in premarket trading after Nike reported disappointing profits. Names like Under Armour (NYSE:UA) and Lululemon (NASDAQ:LULU) were affected by the losses.
PepsiCo (NASDAQ:PEP): a maker of soft drinks, is apparently considering various cost-control measures, including probable layoffs. Fox Business reports that if business conditions worsen, the program might transition to additional staff reduction measures after beginning with buyouts for workers over 55.
DuPont (NYSE:DD): provided an update on the acquisition of Rogers, noting that it recently withdrew and re-filed the deal with China’s antitrust authority. The business declared its intention to complete the transaction as quickly as feasible.
Philips (NYSE:PHG): announced that Roy Jakobs, a corporate executive, will succeed Frans van Houten as president and CEO in the middle of next month. The ratification was made at the company’s Friday Extraordinary General Meeting of Shareholders.
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Featured Image- Megapixl @ Zeferli
Author Jowi Kwasu