Several notable companies are experiencing significant premarket movements, including General Mills, Winnebago, and GameStop.

Several notable companies are experiencing significant premarket movements, including General Mills, Winnebago, and GameStop.
Several notable companies are experiencing significant premarket movements, including General Mills, Winnebago, and GameStop.

Check out the companies making headlines before the bell:

General Mills reported better-than-expected quarterly earnings and raised its full-year outlook, resulting in a 1.6% gain in the premarket. The food maker earned an adjusted 84 cents per share, 6 cents above estimates, with revenue essentially in line with analyst forecasts. Additionally, General Mills stated that demand for food at home remains elevated.

Winnebago reported adjusted quarterly earnings of $3.14 per share, exceeding the $2.94 consensus estimate, and revenue also surpassed Street expectations. The results were driven by strong consumer demand and higher prices. Despite this, Winnebago shares fell 2.4% in premarket trading.

The videogame retailer, GameStop, experienced a 12.4% increase in premarket trading after an SEC filing revealed that Chairman Ryan Cohen had purchased an additional 100,000 shares, increasing his stake in the company to 11.9%.

Adobe surpassed expectations by 3 cents with adjusted quarterly earnings of $3.37 per share, despite revenue being only slightly above estimates. However, the software company forecasted a $75 million decline in a key subscription revenue measure due to challenges in Russia and Belarus. As a result, Adobe's stock price fell 2.7% in the premarket.

The U.S.-listed marijuana industry experienced a surge in premarket stock prices after two major takeover deals were announced. Tilray saw a 10.9% increase, while Canopy Growth rose 4%, Aurora Cannabis gained 7.6%, and Sundial surged 8.6%.

Okta reported that a preliminary investigation found no evidence of ongoing malicious activity after a hacker breach. The digital authentication company stated that up to 366 customers may have been affected by the breach, but hackers gained only limited access. Okta's stock dropped 3.6% in premarket action.

Sources close to the matter reveal that private equity firms and Elliott Investment Management are considering increasing their bid for Nielsen, who previously rejected a $25.40 per share offer due to perceived undervaluation of the company.

Poshmark's premarket slide of 9.4% was due to weaker-than-expected guidance for the current quarter, despite better-than-expected revenue and a slightly smaller-than-expected loss in its most recent quarter.

TerraFarma is being acquired by Aurora Cannabis in a C$38 million cash-and-stock deal, with additional payments due on contingent terms. An earlier version of the report contained an incorrect purchase amount.

by Peter Schacknow

markets