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Stocks Making the Biggest Premarket Moves: Oracle, Westrock, Apple and More

September 12, 2023
minute read

Check out the companies making headlines before the bel

Oracle: The company's shares saw a 10% decline in premarket trading as it reported revenue and revenue guidance for the second fiscal quarter that fell short of expectations. In the recent quarter, Oracle reported adjusted earnings of $1.19 per share, while analysts polled by LSEG had anticipated $1.15. Revenue stood at $12.45 billion, slightly below the expected $12.47 billion.

WestRock: Pre-market trading witnessed a more than 6% increase in WestRock's shares, driven by news that the paper and packaging company is proceeding with its merger with Smurfit Kappa. However, shares of Smurfit Kappa, based in Dublin, declined more than 8% in response to the announcement.

Apple: In anticipation of the technology giant's eagerly awaited iPhone launch event scheduled for 1 p.m. ET, Apple's stock experienced a slight uptick in premarket trading.

Cintas: Shares of Cintas saw a 1% rise in premarket trading following an upgrade from Bank of America, which elevated the stock to a "buy" rating amid growing indications of a favorable economic scenario.

Casey’s General Stores: The retail company witnessed a premarket surge of over 4% after surpassing earnings expectations for the recent quarter. Casey’s General Stores reported earnings of $4.52 per share, exceeding the projected $3.36, as per analysts polled by FactSet. The company's revenue, at $3.87 billion, slightly missed the expected $3.9 billion.

Geron: In premarket trading, Geron's stock surged nearly 5% following an upgrade from Goldman Sachs, which elevated the blood cancer treatment firm from a neutral to a "buy" rating. Goldman Sachs indicated that Geron's shares could potentially rise by as much as 70%, particularly in anticipation of its 2024 drug launch.

Editorial Board
Eric Ng
John Liu
Editorial Board
Bryan Curtis
Adan Harris
Managing Editor
Cathy Hills
Associate Editor

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