Costco Wholesale Corporation (NASDAQ: COST) Thursday reported revenues of $72.09 billion, topping Street expectations. However, the company’s gross margins contracted by around 80 basis points to 10.18%.
BofA Securities on Costco Wholesale
U.S. stock futures traded lower this morning after recording losses in the previous session. Here are some big stocks moving lower in today’s pre-market trading session.
Pre-open movers
U.S. stock futures traded lower in early pre-market trade on Friday after recording losses on Thursday. The Dow Jones closed lower by more than 100 points, while the Nasdaq Composite fell around 150 points in the previous session after the US Federal Reserve, on Wednesday, raised its policy rate by 75 basis points for the third time.
Costco Wholesale (NASDAQ:COST) reported quarterly earnings of $4.20 per share which beat the analyst consensus estimate of $4.16 by 0.96 percent. This is a 7.69 percent increase over earnings of $3.90 per share from the
There are good days and bad days to be announcing earnings. When the market is good, investors are in buying mode. When the market has a bad day, investors do not have the same appetite for risk. As of Thursday afternoon, the markets are leaning to the downside.