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Bed Bath & Beyond sinks in premarket trading Friday.
Michael M. Santiago/Getty Images
Stock futures were lower Friday as investors remained uncertain over the pace of rate hikes from the Federal Federal Reserve as the central bank aims to cool inflation.
S&P 500
futures fell 1% and
Dow Jones Industrial Average
futures were down 0.8%. Futures for the tech-heavy
Nasdaq Composite
fell1.2%.
Here are some of the stocks making notable moves in premarket trading Friday.
Meme stock
Bed Bath & Beyond
(ticker: BBBY) plunged 43% in premarket trading Friday. RC Ventures, the firm run by activist investor Ryan Cohen, has sold its entire Bed Bath stake for $178 million.
Robinhood Markets
(HOOD) was 4.5% lower after the stock trading platform reported that its monthly active users declined 6% month over month and 33% year over year.
Foot Locker
(FL) soared 20% after the shoe retailer posted adjusted earnings for its second quarter that beat Wall Street estimates.
Bill.com Holdings
(BILL) soared 20% early Friday after the bill-payment automation company reported a narrower loss than expected in its fiscal fourth quarter and revenue that beat Wall Street consensus. The company also issued revenue guidance above analysts’ expectations.
Deere
(DE) was down 5.2% after the agricultural equipment maker reported fiscal third-quarter earnings that missed analysts’ expectations and reduced its earnings guidance range for the fiscal year.
HP Inc.
(
HP
Q) fell 3.8% after an analyst from Wells Fargo downgraded the rating on the computer company to Underweight from Equal Weight.
Applied Materials
(AMAT) said that it expects fiscal-fourth quarter revenue above Wall Street estimates. The stock was down 0.2% early Friday.
Write to Angela Palumbo at angela.palumbo@dowjones.com
