Nasdaq and S&P 500 futures rose on Wednesday, as markets got a boost from a better-than-feared antitrust ruling concerning Google. Here are four stocks to watch on the day:
Class C stock of Alphabet (GOOG) rose 6.3% in premarket trade after news that Google won’t be forced to sell its flagship Chrome Web browser in a closely watched antitrust case. The ruling helped the tech giant to avoid hard penalties in the regulatory case, making it a big win for the company.
Dollar Tree (DLTR) shares fell 7.1% before the opening bell, even as the firm raised its annual sales and profit outlook. The firm reported sales from continuing operations were up 12.3% to $4.6 billion in Q2. However, stocks took a dive after the firm said its current quarter profits will be mostly flat quarter-on-quarter due to the impact from tariffs, according to a Reuters report.
Campbell’s (CPB) stock rose 2.4% in premarket trade after the food company posted a mixed FQ4 earnings report. Total sales were flat compared to a year ago at $2.3 billion. Organic net sales decreased 3% to $2.2 billion during the quarter. Adjusted EPS was reported at $0.62 vs. $0.56 consensus and $0.63 a year ago.
PepsiCo (PEP) shares were down 0.4% in extended trading, even as TD Cowen boosted its outlook on the firm after Elliott Management disclosed a $4 billion activist stake in the food and beverage giant this week. Analyst Robert Moskow and his team view the arrival of Elliot Management as a positive because it heightens pressure on PepsiCo (PEP) to act quicker on key initiatives.