Pre-market Movers – Bed, Bath & Beyond and JC Penney in focus

Investing.com – Wall Street is set to start strongly higher Thursday, as investors celebrate the restraint shown by U.S. President Donald Trump in proposing further sanctions on Iran rather than military action after missiles strikes against U.S. troops in Iraq. With this deescalation of tensions in the region, attention can focus on the fundamentals surrounding individual stocks. With this in mind, here are some companies which are likely to be in focus today.

• Bed Bath & Beyond Inc (NASDAQ:). Shares in the retailer dropped after hours Wednesday after it released an earnings miss and withdrew its fiscal 2019 outlook, saying that it would reveal its strategic plans in early 2020. Its shares are sharply lower premarket, down 12%, as the selling is expected to continue today.

• Kohls Corp (NYSE:). The retailer reported that same-store sales during November and December fell 0.2% due to weakness in its women’s business, a core area. This lead it to lower its fiscal 2019 earnings per share forecast to be at the low end of its forecast range.full-year outlook. Shares are down 8.1% premarket.

• JC Penney Company (NYSE:). Shares in the retailer are lower premarket after it said its same-store sales over the holiday period dropped 7.5%, continuing the trend of declining sales in the U.S. retail sector during this time frame. But despite a steep sales decline, it reaffirmed its outlook for the year. Shares are only down 3.3%.

• HP Inc (NYSE:).The company is in focus today after its board turned down a takeover offer from Xerox Corp (NYSE:). Earlier this week Xerox stated that it had secured funding for an unsolicited $33 billion takeover bid for the maker of PCs and printers. HP’s board said that the bid undervalued the company, and shares are 1.1% higher as shareholders anticipate a higher bid.

• Tesla Inc (NASDAQ:). Shares in electric car maker are likely to be focus today after they 5% yesterday, closing at a record high and pushing its market capitalisation to above that of rivals General Motors (NYSE:) and Ford (NYSE:) combined. Shares are up 1% premarket.

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