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U.S. Stocks - Nordstrom, HPE Fall, GE Rises in Premarket

Published 2020-03-04, 09:00 a/m
© Reuters.
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By Geoffrey Smith

Investing.com -- Stocks in focus in premarket trade on Wednesday, March 4. Please refresh for updates.

  • General Electric (NYSE:GE) stock 1.8% after the company upheld its forecast for cash flow this year, despite an expected short-term hit from the novel coronavirus outbreak.

  • The company still said it expects the outbreak to cut its first-quarter cash flow by between $300 million and $500 million.

  • Nordstrom (NYSE:JWN) stock fell 8.0% to a seven-month low after issuing disappointing guidance for the year ahead.

  • The retailer’s earnings per share also fell some 3% short of forecasts in the all-important holiday quarter, while revenue also disappointed slightly.

  • Also on Tuesday, the company had said Erik Nordstrom (NYSE:JWN) will take over as sole CEO of the company, ending a period in which he shared that office with his brothers.

  • Hewlett Packard Enterprise stock fell 3.3% after missing consensus forecasts for sales and profit in the last quarter, a reflection of a sharp drop in demand for servers from its corporate client base.

  • Dollar Tree (NASDAQ:DLTR) stock fell 2.5% to its lowest since October after reporting a mixed fourth quarter. Earnings per share were some 3.5% ahead of expectations at $1.79, but revenue of $6.39 billion was $70 million shy.

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