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Business

General Mills, Steelcase, Lucid and more




Wall Street was set for a mixed open

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

General Mills (GIS) – General Mills reported better-than-expected profit and revenue for its latest quarter, and it raised its full-year forecast. The food producer was helped by higher prices which were only partially offset by increased input costs. The stock fell 1.3% in premarket action.

Steel case (SCS) – Steelcase rose 3% in the premarket after the office furniture maker reported better-than-expected quarterly revenue and gave an upbeat earnings forecast. Steelcase’s quarterly revenue fell short of Wall Street forecasts, as did its revenue forecast, but its backlog is 3% higher than a year ago.

Sure (LCID) — Lucid rose 5.% in premarket trading after the electric car maker raised more than $1.5 billion in a series of stock sales.

RocketLab (RKLB) – Rocket Lab fell 1.3% in premarket action after announcing a delay in its first rocket launch from the US. Rocket Lab cited both bad weather conditions as well as regulatory delays stemming from processing documentation from NASA and the Federal Aviation Administration. As a result, Rocket Lab cut its revenue forecast for the fourth quarter.

The trading desk (TTD) – The Trade Desk rose 1.7% in premarket trading after the digital advertising firm’s stock was rated “overweight” in new coverage at Piper Sandler.

Generac (GNRC) — The power equipment maker’s shares fell 1.5% in premarket trading after Baird downgraded it to “neutral” from “outperform” and said Generac’s end markets have yet to bottom out and inventory levels are still returning to that normal. .

Sting fix (SFIX) – The stock was downgraded to “neutral” from “underweight” at JP Morgan Securities, even after an 82% year-to-date decline. The firm says online clothing stylists are struggling with the transition to the “Fix + Freestyle” business model. Stitch Fix shares lost 1.6% in premarket trading.

Beam Therapeutics (BEAM) – The biotechnology company’s shares rose 2.2% in the premarket after Beam was upgraded to “outperform” from “market perform” at BMO Capital. BMO expects positive messages from Beam’s partner Verve Therapeutics (VERV) to help drive the share higher.



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