Rail stocks, Arconic, NextEra Energy and more

News Update - Previous Market

Check out the companies that make headlines before the alarm goes off:

Union Pacific (UNP), CSX (CSX), Norfolk Southern (NSC) – Railway shares were all higher in money markets following news of a tentative deal to avert a rail workers strike. CSX – also named former Ford Motor (F) Chairman Joe Hinrichs as new CEO – up 4.1% in money markets, with Union Pacific up 3.95% and Norfolk Southern up 1.5%.

Iconic (ARNC) – Arconic fell 9.8% in pre-market trading after the aluminum products maker cut its annual forecast due to a variety of production costs and higher energy costs in Europe.

NextEra Energy (NEE) – NextEra Energy plans to sell $2 billion in equity units, with the alternative energy company planning to add proceeds to its subsidiary NextEra Energy Capital Holdings’ general fund . Shares fell 3.5% in money markets.

Danaher (DHR) – Danaher rallied 4.2% in money markets after the health technology company announced plans to turn its environmental and applied sciences unit into a separate company. The transaction is expected to close in the fourth quarter of 2023.

AIG (AIG) – The insurer’s CoreBridge life unit has raised $1.68 billion in the largest initial public offering of 2022. In the IPO, 80 million CoreBridge shares were raised. was sold for $21/share, at the low end of the $21-24 range expected. AIG was up 1.75 in the money market.

Nordstrom (JWN) – Shares of the department store operator jumped 2.6% in buying action before Jeffries upgraded the stock to “buy” from “hold”. The company says younger and more affluent consumers will spend on big wardrobe upgrades, and Nordstrom is best poised to benefit from that trend.

Beach Hotels in Wynn (WYNN) – The casino and resort operator got an “out of the box” upgrade from “neutral” at Credit Suisse, which has called Wynn one of the most compelling stories in the gaming industry. Wynn is up 2.5% in pre-market trading.

Netflix (NFLX) – The streaming service’s shares jumped 2.5% in pre-market trading after the Evercore ISI upgrade to “better” than “in-line”. Evercore bases its opinion on Netflix’s revenue opportunities from the planned ad-support and password sharing limits.

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