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Check out the companies that are trending in pre-market trading. Walgreens — Walgreens stock rose more than 2% in premarket after the pharmacy operator reported first-quarter earnings and sales that beat analysts’ expectations. Indeed, Walgreens lowered its quarterly dividend from 48 cents per share to 25 cents. APA — The oil producer fell 5% after it announced it would acquire Permian Basin producer Caron Petroleum in a $4.5 billion all-stock deal that includes debt. Caron, which had a market capitalization of $2.3 billion as of Wednesday’s close, saw its stock rise more than 4% premarket. Eli Lilly — Eli Lilly announced Thursday that it has launched a website that allows patients to access weight loss medications through telemedicine providers. These drugs include the recently approved Zepbound. The stock price rose more than 1%. Apple — The tech giant’s stock fell 0.5% in premarket trading after the company received another downgrade from Wall Street. Piper Sandler downgraded the iPhone maker’s stock from overweight to neutral, citing valuation concerns, macro weakness and a bleak outlook for handsets. Tech stocks fell 4% this week. Barclays downgraded Apple’s rating earlier this week. Yeti — This drinkware brand saw its stock drop more than 6% pre-market after Canaccord Genuity downgraded it from buy to hold. The Wall Street company said rival Stanley is proving to be a much tougher competition for Yeti than expected, while Owara is also gaining attention. Cal-Maine Foods — The egg company’s stock fell more than 4% after Cal-Maine announced its second-quarter results. The company’s net sales and net income both decreased year-over-year, due in part to lower egg costs associated with higher sales volumes. Cal-Maine’s dividend is variable, with his second quarter dividend coming in at $0.116 per share. Mobileye Global — Shares of self-driving technology company Mobileye plunged 28% in pre-market trading after the company provided preliminary guidance for fiscal 2024 revenue that was lower than expected. The company said it expects customers to hold back on orders as it clears excess inventory. —CNBC’s Jesse Pound and Fred Imbert contributed reporting.
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