DB - 4 stocks to watch on Friday: Deutsche Bank JOANN and more

2023-03-24 08:36:57 ET

The futures were pointing to a decline at the start of Friday's trading. Stocks gained the day before in choppy trading, as strength in technology overcame weakness in other parts of the market. Here are some stocks to watch on Friday:

• Deutsche Bank ( NYSE: DB ) dropped in premarket trading as investors punished the stock amid a surge in five-year credit default swaps . The increase in the cost of default insurance suggested that bank worries continued to plague sentiment. In response, DB dropped about 9% before the opening bell on Wall Street.
• The release of quarterly results sparked premarket selling in JOANN ( JOAN ). The hobby supplies retailer reported a disappointing bottom line and sales that fell 6% from last year. Shares fell about 6%.
• Heron Therapeutics ( HRTX ) received a boost from the release of its financial figures , with shares climbing 8% before the opening bell. The biotech reported a narrower-than-expected loss, with revenue jumping 45%.
• Citi provided an upbeat appraisal of Lululemon Athletica's ( LULU ) earnings prospects ahead of the company's quarterly report next week. "We believe the setup into the print is favorable," analyst Paul Lejuez told investors, predicting that the firm's guidance could come in above cautious expectations.

Looking at the macro picture, see why Seeking Alpha contributor Simple Investing argues that the Federal Reserve "is creating a black swan event of our lifetime" through the way it is handling monetary policy in the face of the recent bank turmoil .

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