6 stocks to watch on Thursday: Salesforce, Lennar, Costco and more

view original post

Following a sharp decline the previous session, investors continued to digest the latest Federal Reserve decision during Thursday’s premarket trading. While Fed policy will dominate the overall discussion, a few individual stocks will be in the spotlight as well.

Here are some of the stocks to watch for Thursday:

  • Salesforce (NYSE:CRM) advanced by 2% before the opening, after the company set longer-term revenue targets at its Dreamforce investor day. The enterprise software maker predicted a top-line total of $50B in fiscal 2026. For 2023, the firm projected revenue of around $31B.
  • A couple of major homebuilders reported quarterly results after the close on Wednesday. This included Lennar (LEN), which topped consensus with its Q3 earnings but issued disappointing revenue as rising interest rates cut into demand for new homes. Even with the light top-line figure, LEN advanced a little more than 1% in Thursday’s premarket action.
  • KB Home (KBH) represented the other high-profile homebuilder to announce its quarterly results following Wednesday’s close. The firm’s Q3 revenue figure came up short of expectations. KBH also provided soft Q4 guidance amid rising mortgage rates, persistent inflation and what the company characterized as “other macro concerns [that have] caused many prospective buyers to pause on their homebuying decision.”
  • Earnings news also impacted shares of Darden Restaurants (DRI). The owner of the Olive Garden brand of restaurants saw its shares drop 3% in premarket trading after its Q1 earnings failed to meet analysts’ expectations.
  • Costco (COST) will receive attention after the closing bell, with the warehouse retailer slated to announce its quarterly results. The company is projected to earn $4.17 per share with revenue predicted to rise to about $72B.
  • FedEx (FDX) is also scheduled to announce its results after the closing bell. Shares of the package delivery giant dropped sharply last week after warning that it was facing deteriorating economic conditions. Investors will be looking closely at FDX’s commentary when it announces its Q1 results.

For more on the prospects for the market, see what analysts are saying in the wake of the Fed’s latest pronouncement.

Related Posts