Stocks making the biggest moves premarket: Oracle, WestRock, Apple and more

Market Insider

Safra Catz, CEO of Oracle Corporation, rings the opening bell at the New York Stock Exchange (NYSE) in New York City, U.S., July 12, 2023. 
Brendan Mcdermid | Reuters

Check out the companies making headlines before the bell

Oracle – Shares fell 10% before the opening bell after the company posted weaker-than-expected revenue and revenue guidance for the second fiscal quarter. For the recent quarter, the software company reported adjusted earnings of $1.19 per share, versus the $1.15 expected by analysts polled by LSEG. Revenue came in at $12.45 billion, lighter than the $12.47 billion expected.

WestRock – Shares popped more than 6% before the bell on news that the paper and packaging company is going forward with its merger with Smurfit Kappa. Shares of Dublin-based Smurfit Kappa sank more than 8% on the news.

Apple – The stock inched higher before the bell ahead of the technology giant’s eagerly anticipated iPhone launch event beginning at 1 p.m. ET.

Cintas – Shares rose 1% in premarket trading after Bank of America upgraded the stock to a buy rating as the odds of a soft landing economic scenario mount.

Casey’s General Stores – The retail stock added more than 4% in the premarket after topping earnings expectations for the recent quarter. Casey’s General Stores reported earnings of $4.52 per share, topping the $3.36 expected by analysts polled by FactSet. Revenue came in at $3.87 billion, slightly behind the $3.9 billion expected.

Geron – The stock jumped nearly 5% before the bell after Goldman Sachs upgraded the blood cancer treatment firm to a buy from neutral rating ahead of its 2024 drug launch and indicated shares could rise as much as 70%.