Costco, FedEx, Boeing Fall Premarket; Raytheon, FuboTV Rise

Stock Markets Sep 23, 2022 08:02AM ET

Costco, FedEx, Boeing Fall Premarket; Raytheon, FuboTV Rise© Reuters.

By Peter Nurse

Investing.com — Stocks in focus in premarket trade on Friday, September 23rd. Please refresh for updates.

  • Costco (NASDAQ:) stock fell 2.5% after the big-box retailer reported a squeeze in its quarterly gross margins as it battles higher freight and labor costs, despite better-than-expected quarterly results.

  • FedEx (NYSE:) stock fell 3.1% after the delivery giant weaker-than-expected fiscal first quarter results, pledging to speed up costs cutting and hike shipping rates to offset the impact slowing global growth on shipping volumes.

  • Apple (NASDAQ:) stock fell 1.6%, suffering with the other major tech stocks as interest rates rise, despite its multi-year deal to sponsor the Super Bowl Halftime show, starting in February.

  • Boeing (NYSE:) stock fell 2.1% after the aircraft manufacturer agreed to pay $200 million to settle civil charges by the U.S. Securities and Exchange Commission that it misled investors about the safety of its 737 MAX.

  • Raytheon Technologies (NYSE:) stock rose 0.1% after the Pentagon awarded the company a $985 million contract to develop prototypes for a hypersonic attack cruise missile.

  • Amazon (NASDAQ:) stock fell 1.7% after the Wall Street Journal reported about the online retail giant’s dangerous delivery practices.

  • Newmont (NYSE:) stock fell 2.7% after Glencore (OTC:) announced it acquire the gold mining company’s 18.75% stake in the Mara project in Argentina for approximately $125 million.

  • Domino’s Pizza (NYSE:) stock rose 0.5% after BMO upgraded its stance on the fast food retailer to ‘outperform’ from ‘market perform’, predicting a 35% rebound in the stock.

  • FuboTV (NYSE:) stock rose 1.3% after Wedbush upgraded its stance on the sports-focused streaming service to ‘outperform’ from ‘neutral’, seeing the stock at a compelling entry level.

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