Winnebago Industries reported disappointing first-quarter earnings, missing both sales and EPS expectations due to weak consumer demand and cautious dealers. The company narrowed its full-year EPS outlook but maintained revenue projections. WGO shares fell in premarket trading, reflecting the market’s response to the lower-than-expected results.
U.S. stock futures rose, but several stocks fell sharply in pre-market trading. Lamb Weston’s earnings miss and lowered outlook caused an 18.6% drop in its shares. Micron Technology also underperformed, while other companies like Abacus Life and Lennar experienced significant declines. The market shows volatility, highlighting the need for careful investment strategies.
US stock futures showed mixed signals Wednesday morning, but several companies experienced significant pre-market drops. Macy’s led the decline after issuing a disappointing Q3 report and lowering its FY24 EPS outlook. ImmunityBio, Acelyrin, Dave & Buster’s, Bausch + Lomb, Otter Tail, Super Micro Computer, and Hershey also saw substantial share price decreases.
U.S. stock futures show mixed signals, with Stellantis shares plummeting 8.4% following CEO Carlos Tavares’ unexpected resignation. Several other companies, including Erasca, Super Hi International, and BARK, also experienced significant pre-market drops, impacting investor confidence.
Tesla has implemented significant price reductions for its vehicles in the United States, China, and Germany. The company’s Model Y, Model X, and Model S vehicles have seen a $2,000 decrease in the US, while the price of Full Self-Driving software has been lowered from $12,000 to $8,000. Tesla has also reduced prices in China and Germany, with the Model 3 seeing a price cut of 14,000 yuan ($1,930) in China. This recent round of price cuts comes amid a decline in Tesla’s stock value, which has fallen to its lowest point in 15 months. Tesla’s stock may continue to face selling pressure due to an upcoming earnings report that is expected to show a decline in demand and a potential negative free cash flow quarter.
