Check out some of the major premarket engines:
Intel (INTC): Intel said it would spend $ 20 billion building two new plants at existing facilities in Arizona, in an effort to gain more market share and fill the gaps created by the global shortage of chips. Intel aims to start production at the new plants in 2024. Intel shares rose 4% in premarket trade, while competitor Taiwan Semiconductor (TSM) shares fell 2.1% after the Intel announcement.
GameStop (GME): GameStop reported quarterly earnings of $ 1.34 per share, and forecasts of one cent per share were missing. Revenues also fell below consensus. The video game retailer did not address Reddit’s business frenzy during its earnings conferences, but in a statement from the Securities and Exchange Commission said it was considering raising money by selling shares to fund its ongoing transformation. Shares fell 12% in premarket trading.
ViacomCBS (VIAC) – Media company shares fell another 7% in the pre-market after sinking 9.1% on Tuesday due to news of a $ 3 billion bid.
General Mills (GIS): The food producer fell 2 cents per share shy of Wall Street forecasts, with quarterly earnings of 82 cents per share. Revenue exceeded estimates and General Mills said he expects demand for food at home to remain high relative to pre-pandemic levels. Its shares fell 1.9% in the premarket.
Winnebago (WGO): The company’s shares gained 3.7% in pre-market shares after the RV reported a quarterly profit of $ 2.12 per share, compared to a consensus estimate of $ 1.42 per share. Revenue exceeded analysts ’forecasts and Winnebago experienced an expansion of nearly 6 percentage points in gross margins during the quarter.
Adobe (ADBE): Adobe exceeds estimates of 35 cents per share, with a quarterly profit of $ 3.14 per share. The software company’s revenue also came in above estimates and Adobe issued strong guidance on earnings for the current quarter and full year on the strength of its flagship suite Creative Cloud and other offerings based on the cloud. Adobe rose 1.2% in premarketing stock.
Amazon.com (AMZN) – Amazon appointed Adam Selipsky as CEO of its Amazon web services unit, effective when current boss Andy Jassy replaces Jeff Bezos as Amazon’s CEO later this year year. Selipsky had been 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 premarket trading.
Bank of New York Mellon (BK): The bank’s shares rose 1.3% in the pre-market after a double update of Bank of America securities to “buy” low-yield. BofA said its call is based on an attractive valuation and an improved profit outlook.
Exxon Mobil (XOM) – Moody’s rating agency down Exxon Mobil’s debt ratings to Aa2 from Aa1, pointing to the energy giant’s goal of maintaining its dividend. Moody’s said the policy will slow down debt reduction at Exxon Mobil.
AMC Entertainment (AMC) – AMC shares fell another 2.1% in premarket trading after Walt Disney (DIS) announced it would delay the release of “Black Widow” in two months and would offer it simultaneously to theaters and its paid Disney + service. Shares of the film operator had fallen 14.7% yesterday and 10.3% on Monday.
Steelcase (SCS): Steelcase gained 6 cents per share during its last quarter, compared to a consensual estimate of a loss of 1 cent per share. The office furniture manufacturer’s revenue also exceeded forecasts. However, the company presented a weaker-than-expected forecast as demand for office products remains weak. Its shares lost 3.4% in the premarket.