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Stocks - JC Penney Soars in Premarket, AB Inbev Surges, Fitbit, Celgene Plunge

Published 2019-02-28, 08:08 a/m
© Reuters.
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Investing.com - Stocks in focus in premarket trade Thursday:

• Anheuser Busch Inbev (NYSE:BUD) stock surged 5.58% by 7:59 AM ET (12:59 GMT) after the company forecast stronger growth and faster debt reduction in 2019.

• JC Penney (NYSE:JCP) stock soared 23.39% as fourth-quarter profit beat expectations and the company announced that it expected to become free-cash-flow positive in the coming year as it accelerates a withdrawal from less profitable stores

• Celgene (NASDAQ:CELG) stock slumped 8.34% after Wellington Management, its largest institutional shareholder, came out against the acquisition offer from Bristol-Myers.

• Fitbit (NYSE:FIT) stock plunged 14.41% after the company reported fourth-quarter earnings that missed analysts’ estimates and disappointed with its update on first-quarter performance.

• Walt Disney (NYSE:DIS) stock was unchanged after Variety reported that the company was in talks to acquire AT&T’s stake in Hulu.

• Arcadia Biosciences (NASDAQ:RKDA) stock skyrocketed 58.33% after the company announced that the creation of a new business unit dedicated to cannabis.

• Square (NYSE:SQ) stock sank 5.82% after the company forecast worse-than-expected first-quarter profit due partly to higher investment costs.

• Box (NYSE:BOX) stock tumbled 22.95% after the company reported mixed fourth-quarter earnings and tough competition led it to issue guidance for the fiscal 2020 year below expectations.

• Hostess Brands (NASDAQ:TWNK) soared 10.43% as quarterly earnings topped consensus.

• HP (NYSE:HPQ) stock plummeted 14.26% after the company reported fiscal first-quarter revenue below expectations, hit by a drop in revenue at its high-margin printing supplies business.

• Monster Beverage (NASDAQ:MNST) stock jumped 6.40% as fourth-quarter results topped consensus on the top and bottom lines.

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