Glatfelter sinks on dividend cut, General Mills up on outlook


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Pre-Open Stock Movers:

Glatfelter Corporation (NYSE: GLT) 14% less, announced that the Board of Directors has suspended the Company’s quarterly cash dividend as part of its focused efforts to optimize the business’s operating and financial results.

Stitch Fix (NASDAQ:SFIX) 6% less, Reported Q4 EPS ($0.89), $0.26 worse than analyst estimates ($0.63). Revenue for the quarter came in at $481.9 million versus the consensus estimate of $488.74 million. Stitch Fix Q1 2023 sees revenue of $455-465 million, versus the consensus of $522.7 million.

Coty Inc. (NYSE: grade, 4% more, IExpects to double its skincare revenue from FY2012 to FY15, maintains FY2013 guidance

Cisco (NASDAQ:CSCO) 2% less, Barclays was downgraded from overweight to equal, pt. $46.00 (from $56.00).

Micron Technology (NASDAQ:MU) 2% less, Mizuho Securities Downgrade From Buy to Neutral with a price target of $56.00 (from $75.00).

Lockheed Martin (NYSE: LMT) 2% more, Putin’s new threats in Ukraine have strengthened defense names.

General Mills (NYSE: GIS) 2% more, Reported Q1 EPS of $1.11, better than analyst estimates of $0.99 of $0.12. Revenue for the quarter came in at $4.7 billion versus the consensus estimate of $4.72 billion. Enhances guidance.

Northrop Grumman (NYSE:NOC) 1 more, Putin’s new threats in Ukraine have strengthened defense names.

General Dynamics (NYSE: GD) 1 more, Putin’s new threats in Ukraine have strengthened defense names.

Raytheon Technologies (NYSE:RTX) 1 more, Putin’s new threats in Ukraine have strengthened defense names.

Western Digital Corp. (NASDAQ:WDC) 1% less, Mizuho Securities Downgrade Buy to neutral with a price target of $40.00.

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PayPal (NASDAQ: PYPL, 1 more, Added to the BofA US 1 list,

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