January 29, 2023

NyseNewsAnalyst

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General Mills, Steelcase, Lucid and more

General Mills, Steelcase, Lucid and more

Take a look at some of the biggest drivers in Primarket:

general mills (GIS) — General Mills reported better-than-expected earnings and revenue for the most recent quarter, and raised its outlook for the full year. The food producer was helped by higher prices that were only partially offset by increased input costs. The stock fell 1.3% in pre-market activity.

steel case (SCS) — Steelcase gained 3% in the premarket after the office furniture maker reported better-than-expected quarterly earnings and issued an upbeat earnings forecast. Steelcase’s quarterly revenue fell short of Wall Street’s forecast as did its revenue forecast, but its order backlog is 3% higher than it was a year ago.

Lucid (LCID) – Lucid rose .5% in pre-market trading after the electric vehicle maker raised more than $1.5 billion in a series of stock sales.

Rocket lab (RKLB) – Rocket Lab fell 1.3% in pre-market activity after announcing that the first rocket launch from the United States would be delayed. Rocket Lab cited both adverse weather conditions and regulatory delays caused by the processing of documents by NASA and the Federal Aviation Administration. As a result, Rocket Lab lowered its revenue forecast for the fourth quarter.

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

Generac (GNRC) — The energy equipment maker stock fell 1.5% in the primary market after Baird cut the rating to “neutral” from “superior,” saying Generac’s end markets had yet to bottom and inventory levels were still in the process of returning to normal.

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stitch repair (SFIX) — The stock has been downgraded to “neutral” from “underweight” at JP Morgan Securities, even after a year-to-date drop of 82%. The company says the online dresser is struggling to transition to the “Fix + Freestyle” business model. Stitch Fix shares lost 1.6% in premarket trading.

Radiation therapy (BEAM) — Shares of the biotechnology company rose 2.2% in the primary market after Beam was upgraded to “outperform” from “market perform” at BMO Capital. BMO expects positive advertising from Partner Beam Verve treatments (VERV) to help push the stock higher.