Costco shares stumble after sales decline, FedEx shares rise after upgrade, and more stocks on the move

By Jamie ChisholmCiara Linnane

Lumentum shares fall after disclosure that company no longer expects to meet prior revenue forecast

Here are some of the biggest movers in Thursday's premarket action, as concerns over deteriorating economic conditions have weighed on stocks in recent sessions.

Stock gainers:

Stock decliners:

SECTOR MOVER: Regional bank stocks moved higher after St. Louis Federal Reserve President James Bullard downplayed concern over financial stress on the economic outlook. While financial stress readings rose after the failure of Silicon Valley Bank in March, they have already retreated, Bullard said, in a talk prepared for the Arkansas Banker Association conference in Little Rock. And financial conditions metrics remain low compared with the financial crisis of 2007-2009 and the onset of the pandemic in 2020, he said. KeyCorp. 's stock (KEY) was last up 3%, Comerica Inc. (CMA) was up 3%, Wells Fargo & Co. Inc. (WFC) was up 2.7% and Zions Bancorp. (ZION) was up 2.2%.

-Jamie Chisholm

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04-06-23 1417ET

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