(With details on Kohl’s, Amazon, copper producers, pre-market prices)
PARIS, July 1 (Reuters) – Top stocks to watch on Friday on Wall Street, where futures on major indices suggest an opening down 0.47% for the Dow Jones, 0.61% for the Standard & Poor’s 500 and 0.71% for the Nasdaq:
* MICRON TECHNOLOGY released quarterly forecasts below market expectations on Thursday, raising fears of the start of a down cycle for the semiconductor industry after two years of strong demand. The title lost 3.5% in pre-market trading. At least eight analysts have lowered their price target.
* CITIGROUP has entered into talks to sell its operations in Russia to local investors, the Financial Times reported on Friday, citing people familiar with the matter. A spokesperson for the bank did not immediately respond to a request for comment.
* KOHL’S has announced that it has terminated negotiations for a possible takeover by FRANCHISE GROUP due to the current context and market volatility. Kohl’s shares fell about 11% in pre-market trading.
* META PLATFORMS has cut its recruitment forecast by at least 30% for this year, Chief Executive Mark Zuckerberg told employees, explaining that they should expect a sharp deterioration in the economic situation.
* AMAZON will allow subscribers to its Prime service to unsubscribe in just two clicks, a decision taken after complaints from consumer associations, the European Commission announced on Friday.
* APPLE raised the selling price of the iPhone in Japan by almost 20%.
* COSTCO WHOLESALE announced Thursday evening the purchase of the 45% that it did not yet hold in its joint venture in Taiwan for 1.05 billion dollars (about 1.0 billion euros).
* JETBLUE AIRWAYS has extended by one month, until July 29, its offer to buy SPIRIT AIRLINES after having improved it at the start of the week.
* Copper producers fall on the market after the metal’s price fell to its lowest since February 2021 on the London Metal Exchange (LME). FREEPORT-MCMORAN lost 3% and Wall Street-listed securities of Rio Tinto, BHP and Teck Resources fell between 1.7% and 2.8%.
* FEDEX – Berenberg lowers its recommendation to “hold” versus “buy”.
(Written by Laetitia Volga and Marc Angrand)