By Saumya Vaishampayan
NEW YORK (MarketWatch) -- Shares of Carnival Corp. fell in premarket trade on Wednesday as Facebook Inc. and Noble Corp. shares gained.
Carnival Corp. (CCL) shares fell 4.2%. The cruise-line operator faced a wave of analyst action, with a downgrade from Morgan Stanley and price-target cuts from J.P. Morgan and Susquehanna, a day after the company forecast lower-than-expected fiscal fourth-quarter earnings.
Shares of Noble Corp. (NE) gained 2.3%. The company said Tuesday it received authorization from its board of directors to split into two offshore-drilling companies.
$AZO AutoZone Inc. (AZO) said Wednesday its fiscal fourth-quarter profit rose to $371.2 million, or $10.42 a share, from $323.7 million, or $8.46 a share, in the year-ago period. Adjusted earnings were $9.76 a share and net sales rose to $3.1 billion. Analysts had expected earnings of $10.34 a share, according to a survey by Thomson Reuters. AutoZone shares ticked up 0.3%.
$FB Facebook Inc. (FB) gained 1.7% premarket to trade at $49.25. The social network reached a new all-time closing high on Tuesday of $48.45. In ratings action on Tuesday, Facebook was initiated at a buy rating and a price target of $60 by Canaccord Genuity. The stock was upgraded to a buy rating from neutral by Citigroup, which also increased its price target to $55 from $32.
-Saumya Vaishampayan; 415-439-6400; AskNewswires@dowjones.com
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09-25-13 0932ETCopyright (c) 2013 Dow Jones & Company, Inc.
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