Early Movers: RAD, HPQ, MU, FDX, WMT & More
Check out which companies are making headlines before the bell on Thursday:
Rite Aid - The drugstore chain posted earnings of 9 cents a share, in line with expectations, while revenue fell short of forecasts at $6.3 billion, versus estimates for $6.27 billion. In addition, the company backed its full-year 2014 earnings and revenue guidance, which were at the lower end of current Wall Street projections.
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Hewlett-Packard - Wells Fargo upgraded the tech company to "outperform" from "market perform" and raised the valuation range from $30 to $32 from $23 to $25, citing potential net income and free cash growth, divestitures, and shareholder activism.
Micron - At least five brokerages raised their price targets on the chip maker after the company beat earnings expectations.
FedEx - Analysts were mixed on the package-delivery company's after the firm topped earnings expectations but issued disappointing guidance. Jefferies raised its price target on the firm, while JPMorgan and Bernstein lowered their targets. Morgan Stanley cut its rating on the company to "equal weight" from "overweight."
(Read More: Your First Move for Thursday)
Forest Laboratories - The specialty drugmaker is among a handful of companies interested in bidding for Irish drugmaker Elan, Reuters reported, citing sources familiar with the situation.
ConAgra - Citi reiterated its "buy" recommendation with a $41 price target and added the packaged foods company to the "Top Picks" list.
Newmont Mining - Cowen downgraded its rating on the gold producer to "market perform" from "outperform" with a $31.84 price target, citing valuation.
Wal-Mart Stores - Raymond James lifted its rating on the big-box retailer to "outperform" from "market perform" with a price target of $84.
Panera Bread - Deutsche Bank removed the restaurant chain from its "short-term buy" list, citing valuation and passage of key catalysts. However, the brokerage maintained its "buy" rating on the firm.