Stocks making the biggest moves in premarket trading: Micron, Kratos, McCormick and more
Here are the stocks making headlines in premarket trading on Thursday. Micron Technology — The chipmaker rose 2% after its fiscal-third quarter financial results topped expectations . Micron’s adjusted earnings were $1.91 per share, versus the $1.60 cents expected from analysts polled by LSEG. Revenue was $9.3 billion, above the $8.87 billion consensus estimate. Kratos Defense and Security Solutions — The military tech stock fell nearly 7% after Kratos said it would sell $500 million of stock. The company said the money raised could be used for capital spending, among other uses. McCormick — The food spices stock rose more than 4% after adjusted earnings for the second quarter beat expectations. McCormick earned 69 cents per share, excluding items, while analysts were looking for 66 cents, according to LSEG. MillerKnoll — The furniture maker surged 9.5%. MillerKnoll said net sales for the fiscal fourth quarter jumped more than 8% year over year to $961.8 million. However, adjusted earnings per share came in lower than they did a year ago at 60 cents. Penn Entertainment — The gaming stock rose 2.5% after being upgraded to market outperform from market perform at Citizens. The investment firm said Penn Entertainment is nearing an “inflection point” after the stock has been a long-term underperformer. Jefferies Financial – The bank stock dipped 2.5% after Jefferies reported second-quarter earnings of 40 cents per share, down from 64 cents per share a year ago. General Mills — The packaged food stock rose less than 1% after being upgraded to outperform from sector perform at RBC Capital Markets. The investment firm said that General Mills’ conservative earnings guidance can help the stock find its footing. —CNBC’s Michelle Fox and Alex Harring contributed to this report.
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