Check out the businesses making headlines earlier than the bell Thursday:
Walgreens Boots Alliance (WBA) — The pharmacy operator fell greater than 3% within the premarket on weaker-than-expected results for its fiscal third quarter. Walgreens reported earnings per share of 83 cents, effectively under a FactSet estimate of $1.19 per share. The firm’s fiscal-year earnings steerage additionally disillusioned.
DocuSign (DOCU) — Wedbush hiked its value goal on DocuSign to $240 per share from $165 per share. The new value goal implies an upside of 16.3% from Wednesday’s shut of $206.35 over the following 12 months. “We continue to believe DOCU’s deal flow is holding up well/stronger than expected in this Covid-19 pandemic environment which bodes well for strong underlying metrics/headline numbers during FY2Q,” a Wedbush analyst stated.
Alibaba (BABA) — Needham initiated protection of the Chinese e-commerce large with a “buy” score and a value goal of $275 per share. The agency cited Alibaba’s “well-established ecosystem” and “strategic position in the e-commerce value chain” as causes for the score and value goal, which suggests a 12-month upside of 6.7%.
Regeneron (REGN) — Regeneron shares had been upgraded to “buy” from “hold” by an analyst at SunTrust, who additionally raised his 12-month value goal on the inventory to $750 a share from $400 a share. The analyst stated Regeneron’s base enterprise has “demonstrated strength in a Covid environment.” Regeneron traded 1.2% increased within the premarket.
Carnival (CCL) — Shares of the cruise operator climbed greater than 5% after the corporate’s German subsidiary, AIDA Cruises, stated it would restart trip journeys in August.
Square (SQ) — Square dropped round 1% within the premarket after a Cowen analyst downgraded the inventory to “market perform” from “outperform.” The analyst famous Square’s run-up of greater than 200% since mid-March is “too much, too fast” and that the inventory has priced in all the excellent news from its Cash App enterprise.
Cisco Systems (CSCO) — Morgan Stanley upgraded Cisco to “overweight” from “equal weight,” and hiked its 12-month value goal on the inventory to $54 per share, noting the corporate’s earnings a number of low cost to the S&P 500 is at a 10-year excessive. “While macro does weigh on Cisco currently … we think the valuation gap should close to a more normal 3-4x as earnings prove more resilient than investor expectations,” Morgan Stanley stated.
Six Flags (SIX) — Six Flags jumped greater than 5% after an analyst at Janney upgraded the amusement-park firm to “buy” from “neutral,” noting the inventory’s valuation is enticing at present ranges. The analyst additionally highlighted Six Flags’ publicity to a number of the largest U.S. markets as a constructive.
BioXcel Therapeutics (BTAI) — The biopharmaceutical firm and Massachusetts General Hospital reached a deal during which the hospital will present a BioXcel investigational drug to coronavirus sufferers which will require calming. BioXcel shares rose greater than 4% on the information.