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5 Stocks to Watch on Friday: FedEx, Nvidia and More (NYSE:FDX)
Futures contracts showed a mixed performance ahead of Friday’s open, following a strong rally in the previous session. Investors continue to assess the health of the banking industry and the Federal Reserve’s policy outlook, with The central bank’s next interest rate decision is due next week. Here are some stocks to watch on Friday:
- FedEx (NYSE:FDX) surged in premarket trading after the package delivery giant reported high Q3 earnings and improve prediction. For the full year, the company predicts earnings of $14.60 to $15.20 per share, compared with a previous forecast of $13.00 to $14.00 per share. Supported by the earnings news, shares were up more than 11% before opening.
- Nvidia (NVDA) increased more than 2% in pre-marketing action after receiving Upgrade from Morgan Stanley. The company raised its rating for the graphics chip maker to Overweight from Equal-Weight, arguing that the problems in the game and data center markets have largely been resolved. Morgan Stanley says the company will also get a boost from the rise of artificial intelligence.
- Microsoft (MSFT) responded to European regulators concerned about the software maker’s planned acquisition of video game giant Activision (ATVI). The EU regulator revealed that MSFT took corrective action, although details are not provided. The EU’s deadline to decide on the trade has also been extended to May 22.
- Bank of America (NORTH) revealed that both credit card debt and net fees climbing in February. However, the figures are still below pre-pandemic levels. The company’s Master Credit Card Trust II delinquency ratio rose to 1.14% in February from 1.09% in January. The figure stood at 1.58% in February 2020.
Looking at the broader market, Seeking Alpha contributor CashFlow Hunter identifies “economic data showing [a] slows down the real economy,” points to housing and regional business index.