Alibaba, Eli Lilly, Walmart and More Stock Market Movers Thursday

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Stocks on Wall Street were poised to rise Thursday.

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NYSE

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Stock futures edged slightly higher Thursday, a day after equities rallied on better-than-expected tech earnings and economic data.

Dow Jones Industrial Average futures rose 0.1%, S&P 500 futures were up 0.1% and Nasdaq Composite futures gained 0.2%.

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Here are some stocks moving in Thursday’s premarket session.

Alibaba (ticker: BABA) shares rose 4.1% after the Chinese e-commerce giant posted quarterly earnings that beat Wall Street’s expectations.

Eli Lilly (LLY) slumped 3% after the pharmaceutical company cut its earnings forecast for the fiscal year.

Booking Holdings ‘ (BKNG) shares fell 3.1% after the online travel agency provided a cautious outlook for the third quarter.

Walmart (WMT) fell 0.1% after the retail giant confirmed a report in The Wall Street Journal that it would be cutting 200 corporate jobs across many departments.

Tesla (TSLA) will be holding its annual meeting on Thursday, starting at 5:30 pm Eastern. The stock was up 1.4% early Thursday.

eBay (EBAY) rose 0.4% after the online marketplace posted an upbeat earnings report.

Ethan Allen Interiors (ETN) stock rose 4.5% after the company reported a profit of $1.25 a share, beating estimates of 80 cents. on sales of $229.7 million, above expectations for $197.6 million. The company raised its dividend. A backlog and higher prices helped drive the results. Barron’s recommended the stock in February, noting its large backlog and its ability to raise its dividend. The stock, including Thursday’s move, has dropped 1.9% since then.

MGM Resorts (MGM) rose 3.2% after the company topped sales estimates. The company cited an increase in volumes and travel. Barron’s recommended the stock in January, noting that its limited business in China can help its sales recover from the pandemic, as China’s zero-Covid policy weighed on casino spending. The stock has fallen 23% since the recommendation.

Wesco International (WCC) stock gained 4.8% after the company reported a profit of $4.19 a share, beating estimates of $3.95 a share, on sales of $5.48 billion, above expectations for $5.31 billion. Barron’s recommended the stock in January, arguing that demand for electric infrastructure should grow, given trends in renewable energy, cloud computing, and other businesses. The stock is up 15% since Barron’s recommended it.

Lucid (LCID) slumped 13% in premarket trading after the electric-vehicle maker said it expects to ship 6,000 to 7,000 vehicles in 2022, below prior guidance given in May for 12,000 to 14,000 units.

Fortinet (FTNT) lowered its forecast for fiscal-year service revenue and shares of the software company dropped 8.1% in premarket trading Thursday.

Albemarle (ALB), the lithium miner, crushed second-quarter earnings expectations and its own guidance. The stock rose 5.6%.

Clorox (CLX) dropped 4.5% after the company issued weaker-than-expected adjusted earnings guidance for fiscal 2023.

Write to Joe Woelfel at [email protected] and Jacob Sonenshine at [email protected]

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Credit: www.marketwatch.com /

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