Stocks making the biggest moves in the premarket: Accenture, General Mills, Rite Aid, Roku & more

Market Insider

Take a look at some of the biggest movers in the premarket:

Accenture (ACN) – The consulting firm earned $2.32 per share for its fiscal first quarter, compared to a consensus estimate of $2.05 a share. Revenue beat estimates as well. Accenture also raised its full-year forecast, with demand for digital and cloud services remaining strong as U.S. employees continue working from home. The shares jumped 5% in premarket trading as of 7:30 a.m. ET.

General Mills (GIS) – The food producer beat estimates by 9 cents a share, with quarterly earnings of $1.06 per share. Revenue also topped estimates, helped by homebound consumers buying more of its cereal and baking products.

Rite Aid (RAD) – The drugstore operator reported an unexpected profit of 40 cents per share, compared with forecasts of a 5 cents per share loss. Revenue also exceeded estimates, driven by growth in both the retail pharmacy and pharmacy services segments. The shares added 9% in premarket trading as of 7:30 a.m. ET.

Lennar (LEN) – Lennar reported quarterly profit of $2.82 per share, beating the consensus estimate of $2.37 a share. The home builder’s revenue also came in above Wall Street forecasts. Lennar and other home builders continue to benefit from low mortgage rates, and high demand due to the pandemic. The shares gained 3.7% in premarket trading as of 7:30 a.m. ET.

Roku (ROKU) – Roku will carry AT&T’s (T) HBO MAX streaming service beginning today. Roku had been the only streaming platform not to carry HBO MAX, which launched in May, but the two sides finally came to terms on a carriage agreement. Roku rose 7% in premarket trading as of 7:30 a.m. ET.

Twitter (TWTR) – Twitter withdrew changes to its retweet function that had been implemented to prevent the spread of misinformation during the U.S. presidential election.

Pfizer (PFE) – The Food and Drug Administration said extra doses found in vials of Pfizer’s Covid-19 vaccine can be safely used. Hospitals had been finding that vials contained more than the five doses indicated on the label, but were not sure they were allowed to administer the extra vaccine.

ContextLogic (WISH) – ContextLogic remains on watch after the parent of e-commerce retailer Wish fell more than 5% on its first day of trading Wednesday.

Boeing (BA) – Boeing CEO David Calhoun told CNBC that the jet maker was not planning a massive stock sale to cut debt, as suggested in a Morgan Stanley analyst report. Separately, Boeing is said to be hiring up to 160 pilots that it will embed at airlines to ensure a smooth comeback for its 737 Max jet’s return to service, according to people familiar with the matter who spoke to Reuters.

Tyson Foods (TSN) – The food producer halted production at an Iowa pork plant, after a mechanical malfunction in the plant’s refrigeration system. Tyson said operations at the plant may be halted for a few days while the system is repaired. (AMZN) – Amazon warehouse workers in Alabama will be allowed to hold a unionization vote, after receiving approval from the National Labor Relations Board. It’s the first such vote on Amazon since 2014.

JPMorgan Chase (JPM) – JPMorgan was the unidentified as the other bidder in the contest to acquire investment firm Eaton Vance, according to a report in the Financial Times. The paper said that JPMorgan actually returned with a higher bid after Eaton Vance agreed to be bought by Morgan Stanley, but was rebuffed.

Herman Miller (MLHR) – Herman Miller reported quarterly earnings of 89 cents per share, compared to the 56 cents a share consensus estimate. The office furniture maker’s revenue also came in well above forecasts. Herman Miller said it was hopeful that Covid-19 vaccines will start to spark higher demand for office furniture and other office-related items.

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