This news has been received from: CNBC

All trademarks, copyrights, videos, photos and logos are owned by respective news sources. News stories, videos and live streams are from trusted sources.

VIDEO0:5600:56Wall Street set for more gains at the openMorning Report

Check out the companies making headlines premarket Wednesday:

FedEx (FDX) — FedEx shares popped more than 9% in the premarket on the back of quarterly numbers that beat analysts' expectations. The shipping giant reported earnings per share of $4.

87 on revenue of $19.32 billion. Analysts expected a profit of $2.69 per share on revenue of $17.55 billion. The company said its average daily package volume jumped 31% to 11.6 million in its fiscal first quarter.

Adobe (ADBE) — Adobe reported earnings per share of $2.57 on revenue of $3.23 billion. Analysts polled by Refinitiv expected a profit of $2.41 per share on sales of $3.16 billion. The company said its Digital Media business saw 19% year-over-year growth for the fiscal third quarter while its Digital Experience segment grew by 7% year-over-year.

Zillow (ZG) — A Deutsche Bank analyst named Zillow a "catalyst call buy," noting the $4.8 billion SPAC deal for real estate start-up Opendoor "sets the stage for Zillow to get more value attribution for the Homes segment of its business." Zillow shares were up 1.2% in the premarket.

Eastman Kodak (KODK) — Shares of Eastman Kodak popped more than 42% after a law firm hired by the one-time photography giant said transactions made by CEO Jim Continenza around the time the company learned about a $765 million government loan did not go against internal policies.

KB Home (KBH) — An Evercore ISI analyst upgraded to the homebuilder to "outperform," noting that "amidst  rising  fear  and  insecurity,  the  instinct  to  retreat to the sanctuary of one's home is implacable." KB Home shares traded higher by 1.5%.

Tapestry (TPR) — Shares of the Coach and Kate Spade parent company were up by more than 3% after a Deutsche Bank analyst upgraded the stock to "buy" from "hold." The analyst also hiked his price target on the stock to $21 per share from $18 per share. The new price target implies a 24.7% upside from Tuesday's close of $16.84. "We have seen strong digital trends across the retail landscape, and believe TPR will be a beneficiary of the current trend that appears to be accelerating the shift to digital," the analyst said.

Overstock.com (OSTK) — Wedbush initiated Overstock with an "outperform" rating and a price target of $92 per share, sending the stock up more than 2% in the premarket. That price target implies an upside of 25.4% over the next 12 months. "We see multiple catalysts, both on the macro and micro level that we believe can drive continued upside to revenue and EBITDA estimates," Wedbush said.

DraftKings — Shares of the online sports betting site rose 3% after the company announced a deal with the National Football League's New York Giants. The deal makes DraftKings the team's exclusive operator of sports betting, iGaming and daily fantasy sports.

Related Tags
  • Draftkings Inc
  • Overstock.com Inc
  • Tapestry Inc
  • KB Home
  • Eastman Kodak Co

News Source: CNBC

Tags: in the premarket price target the company the company

Angels slugger Albert Pujols hits 661st home run, passing Willie Mays for fifth on career list

Next News:

Matthew Wolff making the U.S. Open his coming-out party

21-year-old Matthew Wolff is poised to become the youngest U.S. Open champion in nearly a century

Matthew Wolff should still be in college, not leading the 120th U.S. Open. He shouldn’t be able to conquer Winged Foot despite hitting just two fairways. He shouldn’t be contending for a major championship at the age of 21.

Fortunate timing for another young gun to walk away with the trophy.

Next: Dustin Johnsons U.S. Open prep begins off the course

Other News

  • Justin Thomas moves in wrong direction at US Open
  • The biggest, baddest US military vehicles
  • The biggest boom or bust players for every NFL team in 2020
  • Emmys Preview: TVs Biggest Night Goes Virtual; HBO, Netflix Among Top Contenders
  • Schumer: Nothing is off the table if GOP moves forward with Ginsburg replacement
  • Haiti Moves Closer to Constitutional Referendum, Elections
  • Is now a good time to invest? An expert weighs in
  • The biggest roadblock in Daniel Jones Giants development
  • Giants place Alex Dickerson on paternity list, make three other roster moves
  • UK Reports Biggest Increase in COVID Cases Since May 8
  • CS:GO: G2 to Make one of the Biggest Signings in History?
  • Billionaire Chuck Feeney has finally given away his entire $8 billion fortune after making secret donations for decades
  • FedEx to hire 70,000 employees for holiday shipping season
  • Americas biggest mansions will make your jaw drop
  • Investors could be overplaying the election as a lasting driver of the stock market, history shows
  • Germany plans reform to avoid bankruptcy wave due to corona
  • Indonesia Reports Its Biggest Daily Rise in Coronavirus Infections
  • US deploys tanks to Syria to protect troops as aircraft carrier moves into position to give them fighter protection after resurgence of ISIS and Russian ramming incident
  • Abortion Is Suddenly the Biggest Issue in the Presidential Election