On this episode of Stock Movers:
- FedEx (FDX) is sinking on a warning on tariffs. FedEx warns that its profit will be worse than expected this quarter due to the impact of President Donald Trump's trade war on its business. The company's shares dropped 6% in premarket trading, and its stock is down 18% year to date, with US-China shipments deteriorating sharply in May.
- Quantumscape (QS) shares are soaring after the company said it made a big leap forward in its process for making solid-state batteries. The battery startup said after the bell that it has successfully integrated its advanced Cobra separator process into baseline cell production.
- Coinbase (COIN) is moving to the upside today as it gets a price target boost. Bernstein raised the target on Coinbase Global Inc. Class A to $510 from $310. Maintains outperform rating. Bernstein moved its target to the high end of the range, implying a 48% increase from last price.
- BlackBerry (BB) shares are higher this morning after the software company boosted its revenue forecast for the full year. Analysts were positive about the company’s forecast and hiked their price target on the stock.
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