Stocks to Watch: RAD, T, BBBY & More
Take a look at some of Thursday’s morning movers:
Rite Aid - The drugstore chain reported a fourth-quarter loss of 18 cents a share, though that did include a 14 cent special charge. Analysts had been forecasting a loss of 14 cents per share. It also issued a fiscal-year forecast that at least partially exceeds analyst forecasts.
AT&T - JPMorgan Chase is upgrading the stock to "overweight" from "neutral," with a $33 price target. The firm says low expectations by investors have weighed on value, and it thinks the company could see better-than-expected revenue growth in wireless.
Bed Bath & Beyond - Canaccord has downgraded the stock to "hold" from "buy," saying the home goods retailer could be vulnerable to market share losses.
Royal Dutch Shell - The oil company says a "light sheen" of oil has been spotted in the general area of two of its production facilities. However, it adds there's no indication that the oil came from those facilities, located about 130 miles south of New Orleans.
Yahoo - ComScore reports that Yahoo has lost search engine market share for a seventh straight month. It now stands at 13.7 percent, with Google at 66.4 percent and Microsoft at 15.3 percent.
Avid Technology - The maker of audio and video products forecast a first-quarter operating loss and revenue numbers that were far short of Wall Street estimates.
McKesson - The drug wholesaler has won a contract to supply drugs to facilities operated by the U.S. Department of Veterans Affairs. The eight-year contract is worth about $4 billion annually.
Dynegy - The company has received a noncompliance notice from the New York Stock Exchange, meaning it could be delisted. The energy producer’s stock price has fallen below $1 for more than 30 consecutive days, putting in violation of the Big Board’s listing rules. It has six months to regain compliance with that minimum share price requirement.
Ford Motor, Dow Chemical - The two have announced a joint venture to explore better ways to use carbon fiber in car and truck components. The aim is to improve fuel efficiency by making vehicles lighter, with Ford aiming to cut between 250 and 750 pounds from the weight of its cars and trucks by 2020.
Caterpillar - Caterpillar is selling the distribution business for its Bucyrus mining equipment unit to one of its Australian dealers in a $400 million transaction. Caterpillar bought Bucyrus for $7.6 billion last year.
Microsoft - The software giant has won a temporary restraining order against Motorola Mobility preventing it from blocking the sales of Microsoft’s Windows operating system and Xbox videogame console in Germany. Motorola would be able to seek an injunction to do that, if a German court rules in its favor next week in a patent dispute.
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