Sunday, June 16, 2024

4 stocks to watch on Friday: BAH, LCID and more

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Lucid Air luxury electric sedan, all-electric vehicle, outside the car showroom.

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U.S. stock index futures on Friday pointed to a higher open, indicating a rebound from the previous day’s negative session. Here are some stocks to watch on Friday:

  • Shares of Booz Allen Hamilton (BAH) gained more than 5% in pre-market trading, after the company delivered a FQ4 2024 top and bottom line beat. On a GAAP basis, Booz Allen (BAH) swung to a quarterly profit from a loss a year ago. The McLean, Va.-based company is a U.S. government and military contractor primarily providing intelligence services. Booz Allen (BAH) noted double-digit organic revenue growth in its federal defense and civil markets, and its total backlog at the end of the quarter rose 8.4% Y/Y to $33.8B, while its quarterly book-to-bill ratio was 0.82x. Booz Allen (BAH) sees fiscal 2025 revenue growth of 8% to 11%, compared to a consensus estimate of +8.28%.
  • Buckle (BKE) stock fell more than 1% ahead of the opening bell, after the U.S. apparel retailer reported a fall in Q1 net sales, comparable store net sales and online sales. It also saw its profit narrowing Y/Y. Kearney, Neb.-based Buckle (BKE) has been struggling with declining sales as demand for its products remains muted amid larger, more well-known rivals. Buckle’s (BKE) women’s merchandise and denim businesses in particular have been hit. For Q1, Buckle’s (BKE) comparable store net sales decreased 9% while its online sales slipped 13.4%.
  • Shares of Restaurant Brands International (QSR) were marginally up ahead of market open. The company’s Burger King chain on Thursday said it was bringing back its $5 value meal at a time when many other rivals in the fast-food industry have ramped up promotional offers in order to lure consumers back to their stores. Burger King will bring back its $5 Your Way Meal in April, a company spokesperson told Seeking Alpha. Meanwhile, McDonald’s (MCD) is reportedly set to launch its $5 value meal in June.
  • Lucid Group (LCID) stock advanced more than 1% in pre-market trading, after the luxury electric vehicle (EV) maker announced a restructuring plan involving a 6% reduction to its current workforce, or approximately 400 employees. “I’m confident Lucid (LCID) will deliver the world’s best SUV and dramatically expand our total addressable market, but we aren’t generating revenue from the program yet. As always we must remain vigilant about costs,” the company’s top boss and chief technology officer Peter Rawlinson said in an email to employees.

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