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US : Pre Market News – 24 Mar 2017

Adobe Systems (ADBE +0.52%) was upgraded to ‘Outperform’ from ‘Neutral’ at Credit Suisse with a price target of $ 150. FirstEnergy (FE -0.67%) was upgraded to ‘Buy’ from ‘Neutral’ at Goldman Sachs. Micron Technology (MU +1.57%) jumped over 10% in after-hours trading after it reported Q2 adjusted EPS of 90 cents, better than consensus of 86 cents, and then said it sees Q3 adjusted EPS of $ 1.43 to $ 1.57, well above consensus of 95 cents. Entergy (ETR +0.14%) was downgraded to ‘Neutral’ from ‘Buy’ at Goldman Sachs. Macy’s (M -0.35%) was downgraded to ‘Neutral’ from ‘Buy’ at Citigroup. Oxford Industries (OXM +1.85%) slumped nearly 10% in after-hours trading after it reported Q4 adjusted EPS continuing operations of 63 cents, well below consensus of 93 cents, and said it sees Q1 adjusted EPS of $ 1.00 to $ 1.10, below consensus of $ 1.35. KB Home (KBH +1.10%) gained over 1% in after-hours trading after it reported Q1 revenue of $ 818.6 million, better than consensus of $ 806.6 million. GameStop (GME -0.54%) tumbled 11% in after-hours trading after it said it sees full-year EPS of $ 3.10 to $ 3.40, weaker than consensus of $ 3.70. Mylan NV (MYL -0.24%) slid nearly 4% in after-hours trading after a person familiar with the process said that 44 million shares of Mylan stock were being offered via Morgan Stanley. Tronc (TRNC -1.72%) lost 1% in after-hours trading after holder Oaktree Tribune said it liquidated its 10.3% stake in the company.

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