Investing.com - Stocks in focus in premarket trade Wednesday:
• General Electric (NYSE:GE) stock sank 3.34%, extending Tuesday’s nearly 5% slide after the company’s chief executive officer Larry Culp warned that “industrial free cash flow will be negative” in 2019. News last week that GE is selling its biopharma unit to Danaher (NYSE:DHR) for $21 billion had encouraged hopes it would meet Culp's target of generating free cash this year.
• Abercrombie and Fitch (NYSE:ANF) stock surged 10.68% by 8:09 AM ET (13:09 GMT) and is set to open at a six-month high after the company reported better-than-expected fourth-quarter results and forecast annual same-store sales that topped analysts’ estimates.
• Johnson & Johnson (NYSE:JNJ) stock gained 0.32% after the U.S. Food and Drug Administration approved the company’s nasal spray antidepressant.
• Dollar Tree (NASDAQ:DLTR) stock soared 6.79% as same-store sales rose more than expected in the fourth quarter.
• JC Penney (NYSE:JCP) stock traded down 1.79% after S&P cut its debt rating to CCC+ with a negative outlook. It's still up over 20% since reporting better-than-expected quarterly earnings at the end of last month, however.
• Ross Stores (NASDAQ:ROST) stock declined 2.89% after the company said fiscal-first quarter results might be lower than expected because of slow sales in women's apparel.
• BJ's Wholesale (NYSE:BJ) jumped 4.77% as fourth-quarter profit, revenue and same-store sales all topped consensus.
• Urban Outfitters (NASDAQ:URBN) stock fell 2.87% after Chief Financial Officer Frank Conforti gave indications that first-quarter sales have so far been weaker than he expected.
• Ambarella (NASDAQ:AMBA) stock soared 9.15% as fourth-quarter results beat on the top and bottom line.