Ford (F) trending lower after credit rating cut to junk status by S&P . Check out this morning’s top movers from around Wall Street, compiled by The Fly.
- Alaska Air (ALK) up 7% after announcing plans plans to reduce its flight schedule for April and May by approximately 70% and that it drew down $400M on its line of credit while closing an additional secured loan for $425M
UP AFTER EARNINGS –
- Signet Jewelers (SIG) up 18%
- Canadian Solar (CSIQ) up 12%
- Viomi Technology (VIOT) up 12%
- Unum Therapeutics (UMRX) up 10%
- Micron (MU) up 6%
DOWN AFTER EARNINGS –
- Movado (MOV) down 1%
- Ford (F) down 2% after Bloomberg reported that the company’s credit rating was cut to junk status by S&P
- McDonald’s (MCD) down 2% after Reuters reported the company will temporarily trim its U.S. menu as it focuses on simplifying operations amid the coronavirus outbreak
- Expedia (EXPE) down 4% after Goldman Sachs analyst Heath Terry downgraded the stock to Sell from Neutral with a price target of $50, down from $126
- Cheesecake Factory (CAKE) down 16% after Eater reported that the company said it will not make upcoming rent payments for any of its locations on April 1 due to significant loss of income stemming from the COVID-19 pandemic
- Beyond Meat (BYND) down 5% after Goldman Sachs analyst Adam Samuelson downgraded shares to Sell from Neutral with a price target of $39, down from $129
- Groupon (GRPN) down 5% after announcing that Rich Williams is no longer serving as CEO and COO Steve Krenzer is also no longer serving in his role
Originally Posted on March 26, 2020 – Fly Intel: Pre-market Movers
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