U.S. stocks were in negative territory for the entire session and ended Thursday with fractional losses. Industrials led the way lower, while utility and materials names rallied.
United Rentals (URI) was the big loser on Thursday, falling 9% on a lower sales outlook. On the other hand, Abercrombie & Fitch (ANF) gained 12% on the session, after posting quarterly results. GoPro (GPRO) also moved more than 6% higher on word it is entering the drone market.
In after-hours action, Gamestop (GME) is trading up 5% on a higher profit outlook. Deckers Outdoor (DECK) and Ulta Salon (ULTA) are also trading 3% and 2% higher, respectively, after announcing better-than-expected quarterly results.
Looking ahead to Friday morning, we'll get a revision to first-quarter gross domestic product before the opening bell. Economists are prediction a 0.9% contraction in the U.S., compared with the preliminary reading of 0.2% expansion.
David Peltier is the portfolio manager for Stocks Under $10 and Dividend Stock Advisor. Test drive with a free trial.
