Boxes of General Mills Lucky Charm cereal are displayed on shelves at a Safeway store on April 18, 2022 in San Anselmo, Calif.
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Check out the companies making headlines in premarket trading.
general mills — Shares fell 3.9 percent on mixed fourth-quarter results. Earnings for the Betty Crocker and Cheerios owner beat Wall Street expectations, with adjusted earnings of $1.12 a share, compared with a Refinitiv consensus estimate of $1.07 a share. But General Mills’ revenue missed expectations, coming in at $5.03 billion, compared with analysts’ forecast of $5.17 billion.
Nvidia, Advanced Micro DevicesCompany — Chip stocks fell 3.1% and 2.8%, respectively, after hours The Wall Street Journal reports The Biden administration is considering possible new restrictions on the export of artificial intelligence chips to China.this iShares Semiconductor ETF (SOXX) fell more than 2%.
interest — Shares of the social media platform rose nearly 5% in premarket trading after Wells Fargo raised the stock to overweight from equal weight. The Wall Street bank said Pinterest is making strategic moves to outsource earnings to third parties to overcome its attribution and scale challenges, including a tie-up with Amazon.
snowflake — Data Cloud shares rose 1.7% in premarket trading at the company’s investor day on Tuesday, as the company reiterated its full-year guidance. After the incident, Goldman Sachs reiterated its buy rating on the stock, while Morgan Stanley said it would maintain an overweight position.
zoom information — Shares of the software company rose 3.9% in premarket trading after Needham rated ZoomInfo a buy. In a note to clients, Needham said ZoomInfo has “best-in-class unit economics.” Morgan Stanley also reiterated its overweight rating on ZoomInfo.
— CNBC’s Yun Li and Jesse Pound contributed reporting
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