4 stocks to watch on Thursday: Micron, Paychex and more
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Stocks looked poised for a lower open on Thursday, reversing some of the gains posted the previous day. Investors have shown some caution with participation likely to get even thinner as the Christmas holiday approaches. Here are some stocks to watch for Thursday:

Micron Technology (MU) slipped about 3% in premarket trading after releasing quarterly results and announcing job cuts. The memory chip maker reported a wider-than-expected Q1 loss on revenue of $4.09B. The firm also said it planned to cut 10% of its workforce.
Paychex (NASDAQ:PAYX) reported a quarterly profit of $0.99 per share. This edged past expectations by $0.02 per share. Revenue rose 7% to $1.17B. The payroll processor added that it sees total revenue rising by about 8% in 2023, at the top end of its previous forecast of 7%-8% growth.
Lexicon Pharmaceuticals (LXRX) lost ground in premarket action following disappointing clinical data. The company said its LX9211 product failed to meet the primary endpoint in a mid-stage trial for postherpetic neuralgia. Shares slipped 11% on the news.
Mission Produce (AVO) is slated to report its quarterly results after the closing bell. The avocado producer is projected to earn $0.36 per share on a non-GAAP basis, with revenue expected to total nearly $248M.


For more on the broader economy, see why Goldman Sachs chief economist Jan Hatzius believes 2023 will likely avoid a recession.