Urban Outfitters, General Motors, Twitter – Wednesday’s Premarket Movers
Stock futures were down on Red Wednesday as Wall Street considered introducing vaccines and robust government spending by the Joe Biden administration to save the US economy.
Here are some of the top movers during Wednesday premarket trading.
1. Urban Outfitters URBN | 9.3% decrease
Urban Outfitters stocks (URBN) – Get the report fell after the parent company of Urban Outfitters, Anthropologie and Free People reported disappointing Christmas sales and said the executive would be leaving by the end of this month. During the two-month period ending December 31, Urban announced that total sales were down 8.4% year over year, while sales in the same store were down 9% due to a decrease in store traffic.
2. KB Home KBH | Plus 5.2%
KB Home shares (KBH) – Get the report traded higher after the developer reported profits and revenues that exceeded Wall Street estimates. The company said conditions in the property market remain “robust” and expects significantly higher sales and earnings this year.
3. General Motors GM | Plus 4.2%
General Motors shares (GM) – Get the report rose on Wednesday after Nomura Securities switched the automaker to neutral and nearly tripled its post-debut one-year price target for future electric vehicles and flying cars.
4. Twitter TWTR | Plus 1.6%
Shares from Twitter (TWTR) – Get the report rose early Wednesday after analysts at MKM Partners upgraded the stock from neutral to a strong forecast for 2021.
The company said the microblogging website should “improve fundamentals later in the year.” The price target on Twitter was raised from $ 47 to $ 60.
5. Target TGT | Plus 0.2%
Shares of target (TGT) – Get the report facilitated. The retailer said its Christmas sales rose more than 17%, partly due to a surge in online transactions and solid Christmas shopping traffic.
6. Regeneron Pharma REGN | Plus 2.4%
Regeneron shares (RAIN) – Get the report rose after the company announced it would send the Department of Health and Human Services and the Department of Defense an additional 1.25 million doses of a monoclonal antibody cocktail used to treat Covid-19, used to treat President Donald Trump in high-risk patients.
7. Visa V | Plus 0.7%
Shares of Visa (V.) – Get the report rose in premarket a day after credit card giant and Plaid canceled the deal, a deal that the Justice Department had challenged as anti-competitive. The Justice Department filed a lawsuit in November to block the deal.
“We are confident we would have prevailed in court because Plaid’s capabilities are complementary to Visa’s and are uncompetitive,” Visa chairman and chief executive Al Kelly said in a statement.