Take a look at some of the biggest pre-market movers:
General Mills (GIS) – General Mills reported better-than-expected earnings and revenue for its latest quarter and raised its full-year guidance. The food producer was helped by higher prices which were only partially offset by increased input costs. The stock slipped 1.3% in premarket action.
Steel case (SCS) – Steelcase gained 3% in premarket after the office furniture maker reported better-than-expected quarterly results and issued an upbeat profit forecast. Steelcase’s quarterly revenue fell short of Wall Street forecasts, as did its revenue forecast, but its backlog is 3% higher than it was a year ago.
Lucid (LCID) – Lucid rose 5.% in premarket trading after the electric vehicle maker raised more than $1.5 billion in a series of stock sales.
rocket lab (RKLB) – Rocket Lab fell 1.3% in premarket stock after announcing a delay in its first rocket launch from the United States. Rocket Lab cited both poor weather conditions as well as regulatory delays resulting from the processing of documentation by NASA and the Federal Aviation Administration. As a result, Rocket Lab cut its revenue forecast for the fourth quarter.
The trading post (TTD) – The Trade Desk rose 1.7% in premarket trading after shares of the digital advertising company were deemed “overweight” in new coverage from Piper Sandler.
Generac (GNRC) – The electrical equipment maker’s stock fell 1.5% pre-market after Baird downgraded it from “neutral” to “outperforming,” saying Generac’s end markets didn’t not bottomed yet and inventory levels are still returning to normal .
stitch correction (SFIX) – The stock was downgraded to “neutral” from “underweight” at JP Morgan Securities, even after falling 82% year-to-date. The company says the online clothing designer is struggling with its transition to the “Fix + Freestyle” business model. Stitch Fix shares were down 1.6% in premarket trading.
Beam Therapy (BEAM) – Shares of the biotech company rose 2.2% in the pre-market after Beam was upgraded to “outperform” against “market performance” at BMO Capital. BMO expects positive announcements from Beam’s partner Therapeutic Verve (VERV) to help drive the stock higher.