Take a look at some of the biggest drivers in the pre-market:
Intel (INTC) – Intel said it would spend $ 20 billion to build two new plants at existing facilities in Arizona, in an effort to grab more market share and fill the gaps created by the global chip shortage. Intel intends to start production at the new plants in 2024. Intel shares rose 4% in the pre-market, while shares in competitor Taiwan Semiconductor (TSM) fell 2.1% after Intel’s announcement.
GameStop (GME) – GameStop reported quarterly earnings of $ 1.34 per share, losing forecasts by one cent per share. Revenue was also below consensus. The video game retailer did not address the trading frenzy fueled by Reddit in its shares during its earnings conference call, but in a filing by the Securities and Exchange Commission, said it was considering raising money from the sale of shares to finance its transformation. In progress. The shares plunged 12% in the pre-market negotiations.
ViacomCBS (VIAC) – The media company’s stock fell another 7% in the pre-market after plummeting 9.1% on Tuesday with news of a $ 3 billion share offer.
General Mills (GIS) – The food producer fell 2 cents per share ahead of Wall Street forecasts, with a quarterly profit of 82 cents per share. Revenue has exceeded estimates and General Mills said it expects demand for food at home to remain high compared to pre-pandemic levels. Its shares fell 1.9% in the pre-market.
Winnebago (WGO) – The company’s shares gained 3.7% in the pre-market share after the recreational vehicle maker reported quarterly earnings of $ 2.12 per share, compared with a consensus estimate of $ 1.42 per share. action. Revenue exceeded analysts’ forecasts and Winnebago saw an increase of almost 6 percentage points in gross margins during the quarter.
Adobe (ADBE) – Adobe beat estimates by 35 cents a share, with quarterly earnings of $ 3.14 per share. The software company’s revenue was also above estimates and Adobe released a strong earnings orientation for the current quarter and for the entire year based on the strength of its Creative Cloud suite and other cloud-based offerings. Adobe rose 1.2% in pre-market stocks.
Amazon.com (AMZN) – Amazon has appointed Adam Selipsky as CEO of its Amazon Web Services unit, in effect when current chief Andy Jassy replaces Jeff Bezos as CEO of Amazon later this year. Selipsky was an executive at Amazon Web Services to become CEO of Tableau Software, which has since been acquired by Salesforce.com (CRM). Amazon rose 1% in pre-market negotiations.
Bank of New York Mellon (BK) – The bank’s shares rose 1.3% in the pre-market after a double rise by Bank of America Securities to “buy” from “underperforming”. BofA said its decision is based on an attractive valuation, as well as a profit improvement perspective.
Exxon Mobil (XOM) – Exxon Mobil’s debt ratings were downgraded by the rating agency Moody’s to Aa2 from Aa1, pointing to the energy giant’s goal of maintaining its dividends. Moody’s said the policy will slow Exxon Mobil’s debt reduction.
AMC Entertainment (AMC) – AMC shares fell an additional 2.1% in the pre-market after Walt Disney (DIS) announced that it would delay the release of its film “The Black Widow” by two months and offer it simultaneously on the cinemas and on your Disney + service for a fee. The cinema operator’s shares plunged 14.7% yesterday and 10.3% on Monday.
Steelcase (SCS) – Steelcase gained 6 cents per share in the last quarter, compared to a consensus estimate of loss of 1 cent per share. The office furniture maker’s revenue was also above forecast. The company gave a weaker-than-expected forecast, however, as demand for office products remains weak. Its shares lost 3.4% in the pre-market.