Among the companies with shares expected to trade actively in Thursday’s session are Verizon Communications, Straight Path Communications and Snap
Verizon agreed to buy Straight Path for about $3.1 billion, after beating rival AT&T (T) in an unusually intense bidding war for the wireless-spectrum holder. Verizon shares rose 0.1% to $46.40, while Straight Path shares fell 20.35% to $178.25 in premarket trading.
Snap, in its first quarterly report as a public company, showed it struggled to maintain strong user growth at its Snapchat vanishing-messaging app, sending shares tumbling and sparking worries about its ability to challenge social-media titan Facebook Snap shares fell 23.11% to $17.67 premarket.
Inventory management helped Kohl’s improve its bottom line in the first quarter despite lackluster sales. Same-store sales fell a worse-than-expected 2.7%, while overall sales fell more than expected to $3.84 billion. Shares fell 2.06% to $39.49 premarket.
Macy’s reported revenue slid more than expected in the first quarter amid continued weakness in same-store sales and store closures. Shares fell 12.1% to $25.75 premarket.
Fresh off completing a merger with Spectra Energy, Canadian pipeline operator Enbridge said it raised additional capital and worked to paid off debt during its latest quarter.
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AIG was up 1.2% before the bell on a Journal report that the insurer’s board plans to name Brian Duperreault — a onetime lieutenant to former CEO Maurice R. “Hank” Greenberg — as the firm’s chief executive officer.
Teva Pharmaceutical shares rose 1.6% premarket after the company reported a first-quarter profit beat and revenue miss.
Whole Foods was up 4% premarket after the grocery-store chain named a new board chairman and said five directors would step down immediately. The company also announced a new stock buyback plan and released earnings that met forecasts.
Nordstrom is set to report after the close.
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May 11, 2017 at 06:53PM
from Chris Wack
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