Stocks making the biggest moves premarket: Pinterest, Instacart, Bausch Health and more

Stock Market

Pinterest app on a mobile phone.
Andrew Harrer | Bloomberg | Getty Images

Check out the companies making headlines before the bell.

Dollar General — Dollar General shares fell 2% after JPMorgan downgraded the discounter to underweight from a neutral as the company’s core shopper grapples with persistent inflationary pressures and dwindling savings.

Pinterest — Shares climbed more than 3% premarket management said at the company’s first investor day that it expects year-over-year revenue growth to accelerate following a slowdown in 2022 and 2023. Both Citi and D.A. Davidson upgraded to buy and increased their price targets in reaction Wednesday.

General Mills — The Cheerios and Yoplait maker rose 1% premarket after reporting fiscal first-quarter results slightly above Wall Street expectations, and reiterating its outlook for fiscal 2024.

Instacart — Shares of the grocery delivery company were down nearly 4% one day after its stock market debut. The stock opened at $42 after its IPO, after pricing the offering at $30 a share late Monday.

Coty — The cosmetics maker gained nearly 6% premarket after raising its full year outlook for 2024, citing momentum in fragrances at its prestige brands, including Burberry, Calvin Klein and Gucci. It expects like-for-like sales to grow between 8% and 10% next year, compared to prior guidance of 6% to 8%.

Bausch Health — The pharmaceuticals stock gained over 5% before the bell after Jefferies upgraded the stock to a buy rating, simultaneously raising its price target to $16. The investment bank cited strong third-quarter earnings, increased clarity on the Bausch + Lomb spinoff and likely legal victories as catalysts.

Goldman Sachs — Shares edged up fractionally premarket on reports the investment bank plans to sell lending platform Greensky as part of a broader pullback from consumer lending. The deal would be worth about $500 million, according to Bloomberg.

— CNBC’s Yun Li, Tanaya Macheel, Pia Singh and Samantha Subin contributed reporting

Articles You May Like

States’ COVID tax cuts could lead to financial issues
Recovery costs for Maui fire are putting Hawaii’s budget at risk
China’s Country Garden gets liquidation petition from creditor
Biden rebukes Israel over Gaza aid and says US will begin airdrops
Utah bill doubling bonding authority for hospital project passes