4 stocks to watch on Thursday: Apple, Nike and more

Early on Thursday's session, stock futures indicated that there would probably be a decline. Caution returned to the market after a rally on Wednesday took the major averages off of new bear market lows, with the S&P 500 at one point getting within a point of 3,600. Here are a few stocks to watch on Thursday:

Apple slipped again in premarket action, dropping about 2% after Bank of America issued a rare downgrade, cutting the iPhone maker to Neutral from Buy. Analyst Wamsi Mohan cited concerns related to soft consumer demand. AAPL dipped on Wednesday following reports that the tech giant was stepping back from plans to boost iPhone production.

Micron is set to report its quarterly results after the closing bell. With investors looking closely at prices for memory chips, MU is expected to report non-GAAP EPS of $1.37. Revenue is projected to total $6.78B.

Altus Power dropped 17% in premarket trading, weighed down by news of a secondary public offering by a shareholder. The company revealed that a selling shareholder affiliated with Blackstone will offer up to 7M of AMPS's class A shares.

Nike's financial results are expected to be disclosed in aftermarket action. The athletic shoe maker faces headwinds from China and a slowing economy. The company is projected to earn $0.92 per share, on revenue of $12.28B.