LEVI - 5 stocks to watch on Thursday: Alibaba Bed Bath & Beyond and more

2023-04-06 08:16:41 ET

Wall Street investors watch major market averages tread water on the last trading day of the week due to markets being closed tomorrow in observance of Good Friday. Here are some stocks to watch on Thursday:

• Shares of Alibaba ( NYSE: BABA ) ticked higher by 0.9% after it was reported that the Chinese tech giant is gearing itself up to launch its ChatGPT-like technology later this month.
• Bed Bath & Beyond Inc. ( NASDAQ: BBBY ) climbed 1.5% early on as the organization plans to hold a virtual special shareholder meeting on May 9, 2023 to seek approval on its reverse stock split proposal.
• Wells Fargo & Company ( NYSE: WFC ) gained 1.2% in pre-market trading as the large-scale banking organization was upgraded to a Strong Buy from Outperform by Raymond James on the expectation that the systemically important financial institution will benefit from the fallout of the Silicon Valley Bank and Signature Bank failures.
• Levi Strauss & Co. ( NYSE: LEVI ) dropped 5.8% after it topped Q1 earnings and revenue estimates. The apparel firm announced Q1 Non-GAAP EPS of $0.34 which outdid estimates by $0.01. The company also posted revenue of $1.69B (+6.3% Y/Y) which surpassed forecasts by $80M.
• Constellation Brands, Inc. ( STZ ) moved higher by 0.3% as the company raised its dividend by 11.3% . STZ declared a $0.89/share quarterly dividend, which was a jump from its prior dividend of $0.80.

In broader market news, the S&P 500, Dow Jones, and Nasdaq Composite each notice limited trading movements early on during Thursday’s pre-market session.

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