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Premarket Movers Thursday - Nike, Rite Aid, Lumentum

Stocks moving in premarket trading Thursday include Nike, Rite Aid, Lumentum, RH and GrowGeneration.

Stock futures edged lower Thursday ahead of jobless-claims data.

Dow Futures Turn Lower Ahead of Jobless Claims, 7-Year Auction

Here are some of the top movers during premarket trading on Thursday.

1. Nike NKE | Down 5%

Shares of Nike  (NKE)  slumped after the world's biggest sports apparel group was criticized by China's Foreign Ministry for a statement it made about the country's treatment of Uighur Muslims.

Nike said it was “concerned” about reports of forced labor in Xinjiang's Uighur Autonomous Region.

2. Rite Aid RAD | Down 13%

Shares of RiteAid  (RAD)  fell after the drugstore chain lowered guidance for fiscal 2021, blaming a "soft" cough, cold, and flu season.

Same-store sales fell about 5.6% in Rite Aid's fiscal fourth quarter, related mostly to a decline of nearly 37% percent in cough, cold and flu-related categories.

The company expects to report adjusted earnings before interest, taxes, depreciation, and amortization of $425 million to $435 million for the fiscal year ended Feb. 27, lower than the previously estimated Ebitda of $490 million to $520 million.

3. Lumentum Holdings LITE | Up 6.3%

Shares of Lumentum Holdings  (LITE)  rose after Coherent  (COHR) agreed to a takeover proposal by optical-components maker II-VI,  (iiVI)  ending a bidding war between Lumentum and II-VI. 

4. RH RH | Up 4.5%

Shares of RH  (RH)  rose after the home-furnishings retailer after the closing bell on Wednesday posted better-than-expected results for its fiscal fourth quarter and forecast first-quarter-revenue growth of at least 50%.

5. GrowGeneration GRWG | Down 1.8%

Shares of GrowGeneration  (GRWG)  were lower even after the hydroponic and organic gardening store retailer posted better-than-expected revenue numbers for the full year.

GrowGeneration reported sales of $193.4 million for the full year, more than double (up 143%) the $79.7 million of the year earlier and above analysts’ forecasts of $192.5 million.

Same-store sales rose 63%, while e-commerce sales more than doubled (up 123%), the company said.