SPB - 4 stocks to watch on Friday: Tesla News Corp. and more

2023-05-12 08:33:10 ET

Following a mixed performance the previous day, which marked the fourth consecutive day of declines for the Dow, stock futures showed modest strength in Friday's trading. Debt ceiling worries have contributed to cautious trading recently. Here are some stocks to watch on Friday:

• Tesla ( NASDAQ: TSLA ) edged higher in premarket trading, climbing about 2% after the EV maker revealed price hikes . Investors also cheered the fact that Elon Musk, the company's CEO, plans to name a new head of his other venture, Twitter. This could reduce a perceived distraction for the billionaire Tesla boss.
• News Corp. ( NWS ) ( NWSA ) rose in premarket trading after the media giant released better-than-expected quarterly results . Net income fell from last year and revenues slipped 1.6%, but the top and bottom lines still came in above the totals projected by market analysts. "In a period in which advertising was clearly insipid in certain parts of the world, our core non-advertising revenue has been particularly robust, highlighted by a 38 percent increase in revenues at the Dow Jones professional information business," the company's CEO said.
• Walgreens Boots Alliance ( WBA ) revealed that it sold common stock in drug wholesale company AmerisourceBergen ( ABC ), generating cash proceeds of about $644M. Following the sale, WBA said it still holds about 17% of ABC. The drug store chain added that it plans to use the cash to repay debt and for general corporate purposes.
• Spectrum Brands ( SPB ) slipped in premarket trading, dragged down by weak sales figures . The maker of consumer products and home essentials said its sales dropped about 10% from last year. Sales of pet care products edged up, while the top line for its home and personal care segment slumped nearly 12%. SPB declined about 6% before the opening bell.

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