Stocks making the biggest moves premarket: General Mills, Carnival, Bed Bath & Beyond and more

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Check out the companies making headlines before the bell:

General Mills (GIS) – General Mills reported adjusted quarterly earnings of $1.12 per share, 11 cents above estimates, with revenue that also topped Wall Street forecasts. The stock rose 1.6% in the premarket, even as the food producer forecast full-year profit below Street estimates amid rising costs and shifting consumer preferences toward cheaper brands.

Carnival (CCL) – The cruise line operator's shares slid 7.8% in premarket trading after Morgan Stanley cut the price target to $7 per share from $13. Morgan Stanley said the price could potentially go to zero in the face of another demand shock, given Carnival's debt levels. Rival cruise line stocks fell in sympathy, with Royal Caribbean (RCL) down 4% and Norwegian Cruise Line (NCLH) falling 4.6%.

Bed Bath & Beyond (BBBY) – The housewares retailer announced the departure of CEO Mark Tritton, saying it was time for a leadership change. Independent director Sue Gove will serve as interim CEO while the search for a permanent replacement is conducted. Separately, the company reported a wider-than-expected quarterly loss. Bed Bath & Beyond plummeted 10.1% in premarket action.

McCormick (MKC) – The spice maker's stock slumped 7.3% in premarket trading after the company reported lower-than-expected quarterly results and cut its full-year outlook. McCormick said it is seeing a negative impact from factors like higher costs, supply chain issues and unfavorable foreign currency trends.

Pinterest (PINS) – Pinterest co-founder Ben Silbermann stepped down as CEO and will transition to the newly created post of executive chairman. He'll be replaced by Bill Ready, who had been president of commerce at Google.