Pre-Conquest Drives: Glatfelter Sinks at Profits Cut, General Mills Up in Outlook

Pre-Conquest Drives: Glatfelter Sinks at Profits Cut, General Mills Up in Outlook

Stock drives before opening:

Glattfilter Corporation (GLT) 14% less; The Board of Directors has announced the suspension of the company’s quarterly cash dividend distribution as part of its focused efforts to improve the operating and financial results of the business.

Suture repair (SFIX) 6% less; Earnings per share for the fourth quarter were reported ($0.89), which is $0.26 worse than analysts’ estimates of ($0.63). Revenue for the quarter came in at $481.9 million versus the consensus estimate of $488.74 million. Stitch Fix expects revenue for the first quarter of 2023 to be $455-465 million, versus the consensus of $522.7 million.

Coty Company (kotie) 4% higher; eExpects to double its skincare revenue from fiscal 22 to fiscal 25, maintains fiscal year 23 guidance

Cisco 2% less; Barclays lowered the rating from overweight to equal weight, $46.00 (from $56.00).

Micron Technology (MU) 2% less; Mizuho Securities downgraded Buy to Neutral with a target price of $56.00 (from $75.00).

Lockheed Martin (LMT) 2% higher; Defense names gain from Putin’s new threats to escalate in Ukraine.

General Mills (GIS) 2% higher; First-quarter earnings per share were reported at $1.11, $0.12 better than analysts’ estimates of $0.99. Revenue for the quarter came in at $4.7 billion versus the consensus estimate of $4.72 billion. Steering lifts.

Northrop Grumman (NOC) 1% up; Defense names gain from Putin’s new threats to escalate in Ukraine.

General Dynamics (GD) 1% up; Defense names gain from Putin’s new threats to escalate in Ukraine.

Raytheon Technologies Corporation (RTX) 1% up; Defense names gain from Putin’s new threats to escalate in Ukraine.

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Western Digital Corporation (WDC) 1% less; Mizuho Securities downgraded From buy to neutral with a target price of $40.

PayPal (PYPL) 1% higher; added to BofA US 1 list,

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