US Premarket: FedEx, Boeing, Qualcomm and other stocks making biggest moves

FedEx (FDX)

FedEx shed 3.2% in premarket trading as the stock remains
on watch this morning after announcing a 6.9% hike in shipping rates. It also
plans to cut another $4 billion in annual costs.

Boeing (BA)

Boeing slid 1.8% in premarket action. The company will pay
$200 million to settle SEC charges that it made misleading claims about the
safety risks of its 737 MAX jet after two of the planes were involved in fatal
crashes. Former CEO Dennis Muilenburg will pay $1 million under the settlement,
with both parties neither admitting nor denying wrongdoing.

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Qualcomm (QCOM)

Qualcomm fell 2% in premarket action despite saying its
future automotive business pipeline increased to $30 billion in orders, up by
more than $10 billion since July. The growth came primarily from orders for its
Snapdragon Digital Chassis computer chip.

Costco (COST)

Costco fell 3.3% in the premarket despite reporting
higher-than-expected profit and sales for its latest quarter. The company
reported operating margins that were below estimates. The company said it has
no immediate plans to increase membership prices, but said it would happen at
some point.

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CalAmp (CAMP)

Shares of the software company gained 3.5% in premarket
trading after it reported narrower-than-expected quarterly losses with revenue
above analyst forecasts. CalAmp saw record software and subscription services
revenue during the reported quarter.

fuboTV (FUBO)

Shares of the sports-focused streaming service added 2% in
premarket trading after Wedbush upgraded the stock to “outperform” from
“neutral.” The firm sees the stock at a compelling entry point. Wedbush showed
confidence that fuboTV can successfully raise capital and cut its cash burn
rate.

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Ally Financial (ALLY)

Shares of the financial services company fell 2.7% in the
premarket after Wells Fargo downgraded it to “equal weight” from “overweight”.
Wells said Ally will feel pressure from Fed rate hikes and an accelerating fall
in used vehicle prices, which impacts yields from leases.