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Stocks - Rite Aid, Aurora Cannabis Rise in Pre-market; Boeing Falls

Investing.com - Stocks in focus in premarket trade Wednesday:

· Rite Aid (NYSE:RAD) stock jumped 10% by 8:30 AM ET (12:30 GMT) after news that its CEO John Standley is leaving along with other top executives in a thorough management restructuring. The company said it expects to save $55 million annually due to the changes.

· Clearwater Paper (NYSE:CLW) stock lost 7% after it reported a decline in fourth-quarter net sales. The company said net sales were down 1.8% from the same quarter in 2017.

· Express Inc (NYSE:EXPR) stock slumped 12% after the retailer said its comparable sales fell 5% in the fourth quarter, while its revenue was also less than expected.

· Boeing (NYSE:BA) fell 1% as countries around the world moved to ground the company’s 737 Max 8, despite the U.S. Federal Aviation Authority's reassurances that it's safe to fly. The company said Monday it's updating a part of the plane's flight control system that governs stall prevention.

· Kraft Heinz (NASDAQ:KHC) stock inched up 0.3% amid news that the company has hired Royal Bank of Canada to review options for its Breakstone's sour cream business, including a sale.

· Tesla (NASDAQ:TSLA) stock was up 0.12% despite Goldman Sachs (NYSE:GS) reiterating its sell recommendation. CNBC quoted the bank's analysts as saying that recent news flow suggests demand for its high-end models is weakening as federal tax credits for electric vehicle purchases fade. Meanwhile the U.S. Securities and Exchange Commission received permission to respond to CEO Elon Musk’s claims that his Twitter posts did not violate his fraud settlement with the regulator.

· Aurora Cannabis Inc (NYSE:ACB) stock surged 13% as the medical marijuana company announced it appointed activist investor Nelson Peltz as a strategic advisor to the company.

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