Stock futures fell Thursday giving up some gains from the previous session that saw the
post its best day in almost three weeks. The yield on the 10-year Treasury note was unchanged at about 4.74%, near multiyear highs.
(RIVN) expects third-quarter sales of between $1.29 billion and $1.33 billion, in line with analysts’ estimates, and said it plans to offer $1.5 billion worth of convertible notes. The electric-truck maker said its estimated cash, cash equivalents and short-term investments at the end of the third quarter were $9.1 billion, “sufficient to enable us to fund our operations and capital expenditures through 2025.” The stock fell 8.7% in premarket trading.
EV leader
(TSLA) was down 0.7% after closing with a gain of 5.9% on Wednesday. The stock has risen since
earlier this week reported third-quarter deliveries that missed analysts’ consensus estimates.
(CLX) was falling 4.6% after cutting its fiscal first-quarter outlook following a cybersecurity attack.
sees a loss of 35 cents to 75 cents a share; on an adjusted basis it expects between a break-even result to a loss of 40 cents a share. Clorox said it sees sales falling by 28% to 23% in the period from a year earlier. The company disclosed the cyberattack in mid-August.
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(BB) rose 2.6% after announcing it would split into two separate businesses, and planned to spin off its Internet-of-Things business in an initial public offering. The IPO would be targeted for the first half of the next fiscal year,
said.
(XOM) declined 1% after the energy giant said its third-quarter earnings would get a lift from rising crude oil prices. In a regulatory filing,
said it expects a change in liquids prices to boost profit in the period by between $900 million and $1.3 billion. A change in gas prices would add between $200 million and $400 million. Thinner margins at its chemicals business would reduce profit by $400 million to $600 million.
(ORLY) rose 1.1% to $906.95 after shares of the auto parts retailer were upgraded to Buy from Neutral at
and the price target was raised to $1,040 from $983.
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(COST) said same-store sales in September rose 4.5% from a year earlier, accelerating from growth of 4.3% in August. E-commerce sales rose 3.7%. Higher gas prices helped drive Costco’s same-store sales up by about 0.5% this month, the retailer said. The stock was down 0.2%.
Earnings reports are
(STZ),
(LW),
(CAG), and
(LEVI).
Write to Joe Woelfel at joseph.woelfel@barrons.com
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