A Starbucks worker union advocate wears a union shirt and attends “No Corporation Above the Law: Need to End Starbucks Illegal Union Crackdown” hearings.
Bill Clark | Cq-roll Call | Getty Images
Check out the companies making headlines in premarket trading.
Starbucks — The union representing workers said strikes at some stores would begin on Friday after the coffee chain fell 1.1% after the company said it would not allow Pride month decorations at its cafes. Workers at more than 150 stores have agreed to strike next week and more jobs are being sought for authorization, the union said.
Chemex — Shares of the used-car retailer rose 6.8 percent after first-quarter revenue topped Wall Street expectations. CarMax reported revenue of $7.69 billion, topping the $7.49 billion forecast by analysts polled by StreetAccount.
virgin galactic — Shares fell 12.4 percent in premarket trading after the space tourism company said it raised $300 million in a common stock offering. Virgin Galactic said it hopes to raise an additional $400 million to expand and improve its fleet of spacecraft.
Under Armor — Wells Fargo fell nearly 3 percent in premarket trading after Wells Fargo downgraded its rating to equal weight from overweight. The Wall Street bank said the sportswear company’s North American operations were overexposed, with excess inventory and a chief executive who had only been at the helm for six months. On Thursday, Under Armor laid off 50 people at its Baltimore headquarters, the Baltimore Sun and Footwear News reported.
Wayfair — Shares of the home furnishings retailer rose more than 1% after MoffettNathanson upgraded Wayfair to underperform from underperform. Wayfair appears to have benefited from the bankruptcy of Bed Bath & Beyond, the investment firm said.
C3.ai — Deutsche Bank said at its investor day that the company is not differentiating itself from other artificial intelligence companies, sending shares down 0.8% premarket. The company reiterated its sell rating.
Accenture — The consulting firm fell 1.5%, a steeper drop from the previous session, as investors continued to take profits after its earnings report. On Thursday, Accenture beat analysts’ expectations for earnings per share and revenue. Despite post-earnings losses, Accenture shares are up 15% so far this year.
— CNBC’s Jesse Pound and Michelle Fox contributed reporting.
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