Costco Wholesale, Richardson Electronics, FedEx, And More Are Making The Biggest Moves Premarket

‍Richardson Electronics

It's too early to tell whether or not Richardson Electronics' share price will rise about 0.7% to its highest level since it reported a lower backlog in its third fiscal quarter than it did a year ago. Both the accounting and engineering services company posted better-than-expected earnings in the quarter as well.

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Costco Wholesale

The club retailer's shares dropped 2.5% after it reported that total comparable sales for March were $21.71 billion, a 1.1% decline over the same period last year. Even with gas prices and foreign exchange accounted for 0.5% of net sales growth, comparable sales were positive when gasoline prices and foreign exchange were excluded.

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Constellation Brands

A small rise was reported in Constellation Brands' share price after the company announced earnings for the most recent quarter. Revenue for the company increased to $2.98 billion over Refinitiv's forecast of $2.82 billion. Earnings per share were higher than Refinitiv's forecast by $1.98.

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FedEx Corporation

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After announcing a cost-cutting restructuring plan on Thursday, shares rose 1%. According to Raymond James, FedEx's "transformational changes" will increase margins, earnings, and free cash flow. The company has been upgraded to outperform market performance.

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Pinterest

As a result of Raymond James' announcement, Pinterest's shares gained 1.2%. According to the company, long-term revenue growth is expected to be in the double digits because of product improvements.

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Comerica

As the regional bank prepares to announce its first earnings after the regional banking crisis, JPMorgan downgraded its stock from overweight to neutral. There was, however, no change in the stock price.

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Levi Strauss

In response to the apparel company's quarterly financial results, Levi Strauss shares dropped 4% after it reaffirmed its forecast for annual revenue and earnings per share. The company's annual guidance reflects a cautious view of the macroeconomy, according to CFO Harmit Singh. However, Levi Strauss beat revenue and earnings expectations in both the top and bottom lines. On revenue of $1.62 billion, analysts polled by Refinitiv forecast earnings of 32 cents per share.

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