By Geoffrey Smith
Investing.com -- Stocks in focus in premarket trading on Friday, March 27th.
- Macy’s (NYSE:M) stock was down 4.9% and Gap stock was down 5.3% after the two retailers’ bonds were downgraded to junk late on Thursday.
- Carnival (NYSE:CCL) stock was down 9.7% while Norwegian Cruise Line (NYSE:NCLH) stock was down 7.6% and Royal Caribbean Cruises (NYSE:RCL) stock was down 7.5% amid fresh doubts as the cruise industry's viability.
- Lululemon Athletica (NASDAQ:LULU) stock was down 3.9%, despite the company promising a rapid rebound in sales in China as the country lifts its lockdown measures.
- Boeing (NYSE:BA) stock was down 2.8% after Treasury Secretary Steven Mnuchin corroborated what CEO David Calhoun had said about a lack of interest in the state taking an equity stake in the company.
- General Motors (NYSE:GM) stock was down 3.3% after the company postponed its shutdown indefinitely, promising to reassess the situation with regard to employee health and safety every week.
- Marathon Oil (NYSE:MRO) was down 2.1% after S&P cut its long-term rating to BBB-, one notch above junk status.
- Apache (NYSE:APA) stock was down 3.8%, after Moody’s downgraded its debt to BB+ (junk status)
- U.S. Steel Corporation (NYSE:X) was down 3.6% after Moody’s cut its debt even further into junk status at B+