Check out the companies making headlines before the bell:
General Mills (GIS) – General Mills gained 1.6% in the premarket after reporting better-than-expected quarterly earnings and raising its full-year outlook. The food maker earned an adjusted 84 cents per share, 6 cents above estimates, with revenue essentially in line with analyst forecasts. General Mills said demand for food at home continues to be elevated.
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. Results were helped by strong consumer demand and higher prices. However, Winnebago shares lost 2.4% in premarket action.
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. The software maker’s revenue was slightly above estimates. However, Adobe cut its forecast for a key subscription revenue measure, expecting a $75 million hit for existing business in Russia and Belarus. Adobe slid 2.7% in the 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 Labs is buying Columbia Care for $2 billion in stock, while Aurora Cannabis is acquiring Thrive Cannabis parent TerraFarma for C$38 billion in cash and stock plus certain incentives. Tilray jumped 10.9% in the premarket, with Canopy Growth up 4%, Aurora Cannabis rallying 7.6% and Sundial surging 8.6%.
Okta (OKTA) – Okta said a preliminary investigation found no evidence of ongoing malicious activity, following news of a hacker breach. The digital authentication company said up to 366 customers may have been impacted by the breach, but noted hackers gained only limited access. Okta dropped 3.6% in premarket action.
Nielsen Holdings (NLSN) – Private equity firms Brookfield Asset Managementand Elliott Investment Management are considering raising their offer for Nielsen, according to people familiar with the matter who spoke to Bloomberg. Nielsen had rejected a prior offer of $25.40 per share, saying it undervalued the company.
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.