Check out the companies making headlines before the bell:
Rite Aid (RAD) – Rite Aid jumped 8.4% in the premarket after reporting a smaller-than-expected loss and revenue that beat Wall Street forecasts, helped by accelerated sales growth at its retail operations. However, the drugstore operator lowered its full-year guidance due to various issues, including seasonal markdowns.
Nike (NKE) – Nike surged 11.6% in the premarket after the athletic footwear and apparel maker reported better-than-expected quarterly results and raised its revenue forecast. Discounting during the quarter helped Nike to clear out excess inventory.
FedEx (FDX) – FedEx rallied 4.5% in premarket trading following its quarterly results, which saw profit beat consensus but sales fell short of analyst estimates. Investors were encouraged by the profit beat and by the delivery service’s vow to continue aggressive cost cuts.
Six Flags(SIX) – Six Flags gained 5.5% in premarket action on news that activist shareholder Land & Buildings Investment Management has accumulated a 3% stake in the theme park operator. Land & Buildings has suggested changes to management, including selling or spinning off the company’s real estate holdings.
