Retailer Falls 4% After Cyberattack
Good morning Wake-up Watchlisters! While you’re sipping coffee you’ll see stock futures were steady on Thursday after a day of gains from a bond rout pullback. The focus will now turn to Friday’s payrolls data, with the latest ADP private sector hiring data providing another sign the labor market is cooling and could lead to less pressure on the Fed to raise interest rates.
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Here’s a look at the top-moving stocks this morning.
Exxon Mobil Corporation (NYSE: XOM)
Exxon Mobil is down 1.41% premarket after the most recent oil slump. However, the biggest U.S. energy provider still sees solid Q3 profits from summer rally. Exxon says it sees operating profits for the three months ending in September in the region of $8.3 billion to $11.4 billion, and the recent downtrend was the biggest pullback in global crude prices in several months.
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Rivian Automotive (Nasdaq: RIVN)
Rivian Automotive is down 9.08% premarket after the electric vehicle company said it will sell $1.5 billion in convertible bonds as it looks to fund the production of its R2 electric SUV. This bond sale ended up offsetting a solid revenue forecast, as third quarter revenues likely doubled from last year, to between $1.29 billion and $1.3 billion.
The Clorox Company (NYSE: CLX)
The Clorox Company is down 4.31% premarket after the company warned its quarterly sales will drop at least 23% and it will post a deep loss after a cyberattack hurt its business. Other metrics – gross margin, organic sales and diluted net earnings per share – will see negative effects as well, according to the company.
BlackBerry Limited (NYSE: BB)
Blackberry is up 2.81% premarket after the company announced plans to hold an initial public offering for the company’s Internet of Things division. This move will separate the business from its main cybersecurity operations.
Those are the biggest stock movers for today.
Happy trading!
The Wake-Up Watchlist Research Team
