HP Inc. said it expects fiscal 2024 free cash flow of between $3.1 billion and $3.6 billion.
David Paul Morris/Bloomberg
Stock futures rose slightly Wednesday following three straight days of gains for Wall Street that have come amid an easing of bond yields. Traders were awaiting fresh U.S. inflation data both Wednesday and Thursday.
These stocks were poised to make moves Wednesday:
HP Inc.
(HPQ), the maker of computers and printers, said it was increasing its annual dividend by 5% and forecast fiscal 2024 free cash flow of between $3.1 billion and $3.6 billion. HP said it expected to return “approximately 100% of fiscal 2024 free cash flow to shareholders through dividends and share repurchases.” The stock was up 1.4% in premarket trading.
Birkenstock
‘s (BIRK) initial public offering was priced at $46 a share, the midpoint of the expected range. At $46 a share, the company raises $1.5 billion and has a market value of $8.6 billion. Shares of the German sandals maker will begin trading on the New York Stock Exchange Wednesday under the ticker symbol “BIRK.”
Silk Road Medical
(SILK) was falling 39% in premarket trading after the medical device company estimated full-year revenue at $170 million to $174 million, below previous guidance of $180 million to $184 million. Analysts had expected full-year revenue of nearly $182 million.
Walgreens Boots Alliance
(WBA) named Tim Wentworth as its new chief executive. Wentworth is the former CEO of pharmacy-benefit manager Express Scripts.
Walgreens
is scheduled to report quarterly earnings on Thursday. Shares rose 1.3% in premarket trading.
U.S.-listed shares of
Fresenius Medical Care
(FMS), the German kidney dialysis services company, declined 19% in premarket trading after a trial of
Novo Nordisk
‘s (NVO) Ozempic to treat renal impairment in diabetes patients was stopped early because of its efficacy. U.S.-listed shares of
Novo Nordisk
rose 2.9%.
American depositary receipts of
Polestar Automotive
(PSNY) were down 6.9% after the Swedish electric-car company, filed for a mixed shelf of up to $1 billion.
Write to Joe Woelfel at [email protected]
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