A pedestrian walks by a FedEx truck on June 20, 2023 in San Francisco, California.
Justin Sullivan | Good pictures
Here are the stocks that made significant moves before the opening bell.
FedEx — Shares gained more than 5% after beating fiscal first-quarter earnings expectations. FedEx reported adjusted earnings of $4.55 per share, topping the $3.71 forecast by analysts polled by LSEG. Its revenue was $21.7 billion, down slightly from $21.74 billion.
KP Home – Despite KB Home beating expectations in its third-quarter report, the homebuilder’s stock fell more than 3%. The company earned $1.80 per share on revenue of $1.59 billion. Analysts surveyed by LSEG were looking for $1.43 a share on revenue of $1.48 billion. The company expects its domestic gross margin to decline in the fourth quarter.
Clavio — The marketing automation company’s stock fell more than 1% after going public. Shares opened at $36.75 on Wednesday on the New York Stock Exchange. This was higher than the company’s offer price of $30 per share.
Skyworks Solutions — Shares fell 1.3% after BNP Paribas cut Exane Skyworks Solutions to neutral from outperform, according to FactSet.
Starbucks — Coffee company shares were marginally lower in premarket trading, falling 0.4%. On Tuesday, the company Opened a $220 million distribution and manufacturing facility in ChinaIts latest attempt to expand in the country. Starbucks plans to increase its quarterly dividend by 7.5%..
Netflix, Disney – Shares fell in premarket trading as writers and producers near a possible end to the Writers Guild of America strike, people close to the negotiations told CNBC’s David Faber on Wednesday. Shares of Netflix fell 0.8%, while Disney shed 0.7%.
Tartan Restaurants – Despite the Olive Garden parent falling 2.6%, LSEG beat polled analysts’ expectations on both lines for its fiscal first quarter and reiterated its outlook for fiscal 2024. Darden’s fine-dining restaurants saw same-store sales shrink 2.8%.
— CNBC’s Brian Evans, Jesse Pound and Alex Haring contributed reporting.