Here are some top movers of the premarket.

Target (TGT) – Target announced a series of moves to “right-size” its inventory levelsThis includes additional markdowns, canceling orders and cancellations. However, it reduced its guidance on operating margins for the current quarter from 5.3% to 2%. It said however that margins would rebound to approximately 6% during the second half of 2011. Target fell 7.9% in premarket.

J.M Smucker (SJM) – The food producer’s shares slid 3.5% in premarket trading despite better-than-expected quarterly results. Smucker claimed that uncertainty and inflation continue to be factors. Recall of Jif peanut butter would negatively impact its full-year profits, it said.

Kohl’s (KSS) – Kohl’s surged 11.2% in premarket trading after saying it was in advanced takeover talks with retail holding company Franchise Group (FRG), the parent of Vitamin Shoppe and other retail brands. Kohl’s could be worth $8 billion. Franchise Group gained 2.7%

United Natural Foods (UNFI) – The food distributor’s shares jumped 5.8% in the premarket after it reported better-than-expected quarterly profit and revenue. United Natural saw an increase in business from existing and new customers, as well as higher inflation. The company also increased its full-year outlook.

G-III Apparel (GIII) – The apparel and accessories company earned 72 cents per share for its latest quarter, 14 cents a share above estimates. This was well in excess of Street expectations. G-III issued a positive outlook, and premarket activity saw its shares rise 2.3%

BuzzFeed (BZFD) – BuzzFeed rebounded 4.9% in the premarket, not nearly enough to make up for Monday’s 41% slide. BuzzFeed stock plunged following expiration of its post-IPO lockup.

GitLab (GTLB) – Gitlab rallied 9.3% in premarket action after the software platform developer reported better-than-expected quarterly results and raised its earnings outlook.

Peloton (PTON) – Peloton announced the departure of Chief Financial Officer Jill Woodworth after four years with the fitness equipment maker. Effective June 13, Liz Coddington (ex-executive at Amazon and Netflix) will replace her. Peloton increased 1.6% in their premarket.

Novavax (NVAX) – A Food and Drug Administration panel will convene today to consider the drugmaker’s approval application for its Covid-19 vaccine. Novavax shares increased 3.8% during premarket actions.

Affirm Holdings (AFRM) – The fintech company’s stock fell 2.8% in the premarket following yesterday’s 5.5% drop. This decline occurred in the aftermath of Apple’s(AAPL), announcement of “buy-now/pay-later” options for its Apple Pay service. Block(SQ) – Square’s payments company, suffered a 3% loss.