Nike, Virgin Galactic Rise Premarket; FedEx Falls
By Peter Nurse
Investing.com — Stocks in focus in premarket trade on Friday, June 25th. Please refresh for updates.
Nike (NYSE:NKE) stock rose 12% after the sportswear retailer predicted fiscal 2022 revenue would top $50 billion for the first time, as its digital sales boomed along with its membership model.
FedEx (NYSE:FDX) stock fell 4% after the delivery firm said that widespread labor shortages would hit its 2022 earnings.
Virgin Galactic (NYSE:SPCE) stock rose 20% after the company said the Federal Aviation Administration had granted it the license it needs to fly passengers on future space flights.
Tesla (NASDAQ:TSLA) stock rose 1% after Japanese electronics giant Panasonic (OTC:PCRFY) completed the sale of its entire stake in the electric vehicle maker, reducing the pressure on its stock.
Bank of America (NYSE:BAC) stock rose 0.9%, Wells Fargo (NYSE:WFC) stock rose 1.6%, JPMorgan Chase (NYSE:JPM) stock rose 0.7% and Goldman Sachs (NYSE:GS) stock rose 0.3% after the banks all passed the Federal Reserve’s stress tests, allowing them to hand money back to shareholders in the form of dividends and share buybacks.
CarMax (NYSE:KMX) stock rose 5.2% after the used-car retailer reported a 138% rise in first-quarter revenue, as more people opted for personal vehicles over public transport during the pandemic.
Mirati Ther (NASDAQ:MRTX) stock rose 1.6% after the company secured FDA’s breakthrough label for a potential drug treating a cancer of the lungs.
Netflix (NASDAQ:NFLX) stock rose 1.5% after Credit Suisse (SIX:CSGN) upgraded its investment recommendation on the streaming giant to ‘outperform’ from ‘neutral’, citing a strong competitive position and high user satisfaction.
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