During Market hours Yesterday — (Thursday – 30.06.2022):

• RH (Symbol: RH) — Shares of RH fell 10.6% after the high-end furniture chain slashed its full-year outlook and said consumer demand for its products could continue to soften in the back half of 2022. That pulled other home retail stocks down. Wayfair slid 6%, and Williams-Sonoma lost 3.9%.

• Walgreens Boots Alliance (Symbol: WBA) — Shares of the drugstore chain fell 7.3% despite an earnings beat in the company’s most-recent quarter. Walgreens said that a slowdown in demand for Covid-19 vaccines weighed on profits but reiterated its forecast for the full year.

• Carnival (Symbol: CCL) — Cruise lines fell broadly, building on sharp losses from the previous session. Shares of Carnival slipped 2.5%. Norwegian Cruise Line Holdings’ dipped 3.9%, and Royal Caribbean’s dropped 3.1%. Earlier this week, Morgan Stanley cut Carnival’s price target in half and said it could go down to zero.

• Pfizer (Symbol: PFE) — The stock climbed 3.1% after Pfizer and BioNTech said they would provide 105 million doses of the Covid vaccine in a $3.2 billion deal with the U.S. government. Shares of BioNTech jumped 5%.

During Premarket hours today – (Friday – 01.07.2022):

• Micron Technology (Symbol: MU) – Micron slid 4.6% in the premarket despite reporting a better-than-expected quarterly profit. The chip maker’s shares came under pressure due to a lower-than-expected sales outlook, stemming from weakening overall demand.

• Apple (Symbol: AAPL) – J.P. Morgan Securities analyst Samik Chatterjee reiterated an “overweight” rating on Apple, saying he is not as worried about Apple’s prospects as others. The firm has a December price target of $200 per share, $46 higher than its Thursday close.

• Meta Platforms (Symbol: META) – The Facebook parent is slashing hiring plans and bracing for an economic downturn. In an employee question-and-answer session heard by Reuters, CEO Mark Zuckerberg said it might be “one of the worst downturns we’ve seen in recent history”.

• FedEx (Symbol: FDX) – FedEx lost 2.1% in the premarket after Berenberg downgraded the stock to “hold” from “buy”, pointing to near-term earnings risks which could halt a recent rally in the stock.

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