Stock Price Movement of Costco, CDK Global, and more Companies
Costco Stocks Surged by 3.2%
The share prices for Costco have experienced a 3.2% surge in premarket trading. The share prices for Costco experienced a surge after it announced its sales for the month of March. The big-box retail chain confirmed that the sales they generated in the month of March were healthy.
The company revealed that compared to the month of March in 2021, their sales were 17.2% higher in the last month.
CDK Global Stocks Surged by 11.4%
CDK Global’s shared prices have experienced an 11.4% jump in premarket trading. The share prices for the automotive retail technology provider surged after it accepted the offer from Brookfield Business Partners. Brookfield Business Partners had made a proposal to acquire CDK Global.
According to sources, Brookfield Business Partners made a proposal of acquiring CDK Global at a price of $8.3 billion. Brookfield would reportedly pay the shareholders at CDK Global $54.87 per share in cash.
Ford Stocks Dipped by 5.2%
The share prices for Ford have experienced an alarming dip in the premarket trading. The share prices for the automaker experienced a dip after the analysts at Barclays downgraded its stock status. The analysts at Barclays reportedly downgraded the stock status of Ford to “equal weight”.
Before Barclays’ analysts downgraded the stock status for Ford, it was at “overweight”. According to the analysts, Ford continues to face major semiconductor shortages, which have been ongoing for almost 2 years.
Still, there is no sign of the issue getting fixed and Ford has to cut down production at its different manufacturing plants. So far, it seems impossible for Ford to make a rebound in terms of its productions. As a result, Ford would continue facing major issues in meeting market demands for the year 2022.
Conagra Shares Dived by 5.5%
Share prices for Conagra have experienced a 5.5% tumble in post-market trading. The share prices for the food producer experienced a dip after sharing its earnings report for the recently ended quarter.
For the particular quarter, Conagra reported that the earnings it generated for the particular quarter were weaker than the expectations set by the analysts.
Conagra executives revealed that their earnings were badly affected by the rise in raw material and transportation costs.
Rite Aid Shares Slid by 18.3%
The share prices for Rite Aid have experienced a huge dip in premarket trading. The share prices for Rite Aid dipped by 18.3% as the analysts at Deutsche Bank went ahead with downgrading its stock status.
Prior to the change, the stock status for Rite Aid was at “sell”. However, the Deutsche Bank analysts have downgraded the stock status for Rite Aid to “hold”.
The analysts at Deutsche Bank remarked due to the Covid-19, the decline for Rite Aid has fastened. They have predicted that there are high chances that Rite Aid may not be able to generate many earnings in the upcoming quarters. This may result in the company not being able to cover the operational costs and may end up closing.