Nike, Constellation Brands Fall Premarket; Apple, Carnival Rise
U.S. futures traded higher, ahead of key inflation data as the month and quarter come to a close. Here are some of the biggest premarket U.S. stock movers today: Nike (NYSE:NKE) stock fell 2.9% after the sports apparel retailer forecast first-quarter revenue below expectations on Thursday as cost-conscious consumers cut back on purchases in North America, the company’s biggest market. Constellation Brands (NYSE:STZ) stock fell 1.4% after the spirits and brewing giant reported a cautious outlook even better-than-expected first quarter results, boosted by strong growth in its beers business. Ford (NYSE:F) stock rose 0.7% after the auto giant said it has found a major international investor for its German plant in Saar louis and has signed initial agreements together with the western state of Saarland. Apple (NASDAQ:AAPL) stock rose 0.9%, which would push the company’s market valuation above $3 trillion, helped by Citi initiating coverage of the iPhone maker with a ‘buy’ rating and a Street-high $240 per share price target. Carnival (NYSE:CCL) stock rose 3.3% after Jefferies upgraded its stance on the cruise operator to ‘buy’ from ‘hold’, saying it is on course to become a long-term investment. Bausch + Lomb (NYSE:BLCO) stock fell 2.2% after the WSJ reported the eye health products company will pay $1.75 billion to acquire a dry-eye drug from Swiss pharmaceutical giant Novartis (NYSE:NVS). Alibaba (NYSE:BABA) ADRs fell 0.4% after the Chinese e-commerce giant’s grocery unit Reshipped expanded its number of physical stores in China, as it prepares to spin off from its parent company.