GME, WYNN, LCID, ADBE and more

A GameStop location on 6th Avenue on March 23, 2021 in New York.

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Take a look at the companies making the biggest moves in premarket trading:

GameStop — Shares fell nearly 21% in premarket trading. The company announced Wednesday the ouster of CEO Matthew Furlong and said Ryan Cohen would take over as executive chairman.

Wynn Resorts, Las Vegas Sands — The casino operators both lost about 2% after a Jeffries downgrade to hold from buy. The Wall Street firm said Macao’s recovery is already priced into its shares.

Signet Jewelers — Shares fell nearly 11% after the jeweler reported lower-than-expected second-quarter earnings and operating income. Signet also lowered its full-year results and revenue to below expectations, citing growing macroeconomic pressures on consumers and a softer-than-expected Mother’s Day.

Lucid — Shares rose about 2% after Lucid’s head of China operations Zhu Jiang said the electric car maker is preparing to enter the Chinese market. Reuters, citing a person familiar with the matter, also reported that the company is considering setting up production in China.

T-Mobile — Shares of the wireless provider rose about 1% in premarket trading after Wolfe Research upgraded T-Mobile to outperform peers. The investment firm said T-Mobile’s stock could rise more than 20% after underperforming this year.

Adobe — Shares rose about 2% after the company announced it will offer its artificial intelligence tool, Firefly, to large enterprise customers. Firefly is available through the standalone Firefly app, Adobe Express and Creative Cloud.

HashiCorp – Shares fell more than 22%, a day after the company reported a first-quarter earnings and revenue miss. HashiCorp also announced targeted spending cuts and an 8% reduction in its workforce, citing the current customer and economic environment.

– CNBC’s Jesse Pound, Sarah Min and Brian Evans contributed reporting.

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