Stock Groups

General Mills, Winnebago, GameStop and others


Take a look at the top companies that made headlines long before the bell rang.

General Mills (GIS) – General Mills gained 1.6% in the premarket after reporting better-than-expected quarterly earnings and raising its full-year outlook. General Mills earned an adjusted 84c per share which was 6 cents more than estimates. Revenues were essentially consistent with analysts’ forecasts. General Mills stated that the demand for home-cooked food is still high.

Winnebago (WGO) – The recreational vehicle maker reported adjusted quarterly earnings of $3.14 per share, beating the $2.94 consensus estimate, and revenue also topped Street forecasts. Strong consumer demand and increased prices helped to boost the results. Winnebago shares suffered a 2.4% loss in pre-market activity.

GameStop (GME) – GameStop soared 12.4% in premarket trading after an SEC filing showed that Chairman Ryan Cohen had bought 100,000 additional shares, raising his stake in the videogame retailer to 11.9%.

Adobe (ADBE) – Adobe beat estimates by 3 cents with adjusted quarterly earnings of $3.37 per share. Software maker Adobe’s revenues were slightly higher than expected. Adobe cut its revenue forecasts for key subscription revenue measures, anticipating a 75 million increase in existing Russian and Belarusian business. Adobe lost 2.7% in premarket.

Tilray (TLRY), Canopy Growth (CGC), Aurora Cannabis (ACB), Sundial Growers (SNDL) – U.S.-listed marijuana stocks jumped in the premarket following news of two takeover deals in the industry. Cresco LabsWhat is the purpose of buying? Columbia CareFor $2 billion stock, Aurora Cannabis will acquire TerraFarma parent Thrive Cannabis for C$38billion in cash and stock with certain incentives. Tilray rose 10.9% in premarket. Canopy Growth was up 4% and Aurora Cannabis rallied 7.6%. Sundial surged 8.6%.

Okta (OKTA) – Okta said a preliminary investigation found no evidence of ongoing malicious activity, following news of a hacker breach. Although 366 customers could have been affected by the hacker attack, Okta noted that hackers only had limited access. Okta dropped 3.6% in premarket action.

Nielsen Holdings (NLSN) – Private equity firms Brookfield Asset ManagementPeople familiar with the situation who spoke to Bloomberg say that Elliott Investment Management is considering increasing their offer to Nielsen. Nielsen said that the previous offer was inadequate and rejected the $25.40 share.

Poshmark (POSH) – Poshmark slid 9.4% in the premarket after the operator of a new and used clothing marketplace gave weaker-than-expected guidance for the current quarter. Poshmark reported better-than-expected revenue for its most recent quarter, along with a slightly smaller-than-expected loss.