Whole Foods, Wendy’s slide; Twitter debut awaited

NEW YORK (MarketWatch) — Will Twitter Inc. soar or tank after its stock-market debut?

Investors are looking for big moves from the social-media company's stock after its initial public offering on the New York Stock Exchange Thursday.

Reuters Enlarge Image A sign displays the Twitter logo on the front of the New York Stock Exchange ahead of the company's IPO in New York.

Twitter (TWTR)   priced its shares at $26 late Wednesday. Cantor Fitzgerald analysts have already assigned the stock a price target of $32. Follow our live-stream updates on the #TwitterIPO here.

Quarterly earnings reports pushed Whole Foods Market Inc. (WFM)  and Wendy's Co. (WEN)  lower in premarket trade Thursday.

Whole Foods shares tanked 10.3% after the company said late Wednesday that fourth-quarter revenue fell short of expectations, and the grocery chain's earnings outlook would be cut. The firm projected an earnings-per-share range of $1.65 to $1.69 in the first quarter of 2014, while analysts polled by FactSet had expected $1.73.

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Shares of Wendy's slid 12% premarket as the company said its third-quarter losses narrowed, but revenue failed to meet expectations. The company reported that sales inched up to $640.8 million, but missed the $643 million expected by analysts, according to a Thomson Reuters survey. The fast-food chain also said it expects adjusted earnings to fall 10% in the fourth quarter compared to the previous year.

Decliners

Shares of Tesla Motors Inc. (TSLA)  slipped in premarket trade Thursday as the market continued to digest a Tuesday earnings report from the auto maker, whose growth failed to meet highly optimistic investor expectations. The stock closed down 14.5% on Wednesday as Wall Street analysts adjusted their outlooks. The shares slipped another 4.1% Thursday morning.

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Shares of Abercrombie & Fitch Co. (ANF)   slipped 2.1% Thursday after Bank of America Merrill Lynch analysts reportedly downgraded the retailer's stock to underperform from buy.

Gainers

Shares in J.C. Penney Co. Inc. (JCP)   were up 5.7% premarket after the firm said same-store sales rose in October, the first increase in nearly two years for the beleaguered retailer. The rise of 0.9% in sales at stores opened more than a year ago contrasts with a decline of 4% in September.

Stratasys Ltd. (SSYS)  shares advanced 4.1% premarket after the company announced third-quarter results.

LivePerson Inc. (LPSN)  shares climbed 16.9% in premarket trade after the company reported third-quarter earnings late Wednesday.