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General Mills, GameStop Rise Premarket; Adobe, Poshmark Fall

Published 03/23/2022, 08:00 AM
Updated 03/23/2022, 08:00 AM
© Reuters.

© Reuters.

By Peter Nurse

Investing.com -- Stocks in focus in premarket trade on Wednesday, March 23rd. Please refresh for updates.

  • General Mills (NYSE:GIS) stock rose 3.3% after the food processing giant raised its full-year core sales and profit forecast, encouraged by higher prices and strong demand for its cereals, snack bars and pet food.

  • Adobe (NASDAQ:ADBE) stock fell 3.1% after the software giant beat its first-quarter targets, but disappointed with its guidance, warning of a hit to its digital media business in Ukraine.

  • GameStop (NYSE:GME) stock rose 13% after Chairman Ryan Cohen's investment company bought 100,000 shares of the videogame retailer, raising its stake to just under 12%.

  • BP (NYSE:BP) ADRs rose 2.8% after Morgan Stanley upgraded its stance on the oil major to ‘overweight’ from ‘equal-weight’, saying the U.K. energy company’s Russia risk is now fully priced in.

  • T-Mobile US (NASDAQ:TMUS) stock rose 0.7% after KeyBanc lifted its stance on the wireless network operator to ‘overweight’ from ‘sector weight’, saying the company has the “best-in-class” 5G network.

  • Boeing (NYSE:BA) stock fell 0.5%, with the aircraft manufacturer still in focus after Chinese authorities recovered one of the black boxes of a China Eastern Airlines (NYSE:CEA) jet, a Boeing 737-800, that crashed on Monday.

  • Tencent Holdings (OTC:TCEHY) ADRs are expected to fall after the Chinese social media and gaming giant posted an 8% rise in fourth-quarter revenue, its slowest growth since going public in 2004.

  • Poshmark (NASDAQ:POSH) stock fell 10% after the new and used clothing marketplace disappointed with its guidance for the current quarter.

Latest comments

Adobe butterfly effect on markets. Said Ukraine business suffrage why misses product REV some & guidance lowered too.Tech esp. suffer from this miss
Should of got out yesterday shorts hedge fund dadies getting greedy ...no one gets paid at the firm if they don't.scalp...they need tk pay their mortgages,yachs, and girlfriend rentS.
wow that's what i wanted to be!
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