Costco, MillerKnoll, Blink Charging, AAR, Mattel, and More Stock Market Movers

Costco Wholesale (ticker: COST) reported fiscal fourth-quarter earnings and sales that beat analysts’ estimates, but the stock fell 1.7% in pre-market trading after the retailer failed to provide an update on a potential increase in membership fees, a move that many believe… Wall Street has lagged.

MillerKnoll Furniture Company (MLKN) It raised its financial forecasts for 2024Saying it expects adjusted earnings of between $1.85 and $2.15 per share, better than its previous earnings guidance of $1.70 to $2 per share. MillerKnoll also reported first-quarter earnings and sales that exceeded analysts’ expectations. The stock jumped 17%.

Blink Charging (BLNK) rose 11% to $3.24 after UBS initiated coverage of the electric vehicle charging equipment company with a buy rating and a $7 price target. ChargePoint (CHPT) rose 3.9% after it also started buying into UBS.

AAR Corp (AIR), which provides aviation services to commercial and government operators, expects to turn a profit in the current fiscal second quarter amid rising operating margins, CEO John Holmes told The Wall Street Journal in an interview. The company on Tuesday reported first-quarter adjusted earnings of 78 cents per share, above analyst estimates, with sales up 23%. Shares rose 4.2% in premarket trading.

Shares of Hasbro (HAS) and Mattel (MAT) rose 0.3% and 3.4%, respectively, after coverage of the toymakers in Overweight at Morgan Stanley began.
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Zions Bancorp (ZION) stock fell 1.9% to $33.36 after Morgan Stanley downgraded the lender to below equal weight but raised its price target to $32 from $27.

The beauty of the goblin

(ELF) rose 1.8% to $111.20 after starting the cosmetics company with a buy rating and a $138 price target at UBS.

Amazon.com (AMZN) stock fell 0.3% in premarket trading after falling 4% on Wednesday after the Federal Trade Commission said it had filed a lawsuit against the online retailer and cloud company. The agency alleged that Amazon was strategically preventing competition with its dominant online marketplace.

Paramount (PARA) stock rose 0.2% after Hollywood writers agreed to an agreement to end their strike. Netflix (NFLX) shares rose 0.5%, while Walt Disney (DIS) shares rose 0.2%.

Earnings reports are expected after the closing bell on Wednesday from Micron Technology (MU) and Jefferies Financial Group

(Jeff).

Write to Joe Woelfel at [email protected]