Stocks making the biggest moves premarket: Apple, WestRock, McDonald's and more
Check out the companies making headlines in premarket trading Thursday.
Apple — Apple shares fell more than 2.6% after Bloomberg News reported China is planning to extend a ban on iPhone use to state-owned corporations. A day earlier, The Wall Street Journal reported that China was moving to prohibit iPhone usage and other foreign-branded devices in government agencies.
Dutch Bros — The drive-through coffee chain dropped about 6% in premarket trading after it announced a public offering of $300 million in shares of its Class A common stock after market close Wednesday.
Dave & Buster's — Shares of the entertainment and dining company fell more than 3% after it reported weaker-than-expected second-quarter earnings. The company generated 60 cents per share profit on $542 million of revenue. Analysts surveyed by LSEG were expecting 93 cents per share on $559 million of revenue. Comparable sales declined year over year on a pro forma basis.
McDonald's — The fast-food chain gained nearly 1% premarket after Wells Fargo upgraded the stock to overweight from equal weight, saying the company «is firing on all cylinders» when it comes to innovation and that it could see upside in the second half of this year.
ChargePoint Holdings — Shares of the electric vehicle charging infrastructure company tumbled 11.6% after ChargePoint missed estimates for the fiscal second quarter. ChargePoint noted $150 million in revenue while analysts polled by LSEG forecast $153 million. The company also said it would cut its global workforce by about 10%.
WestRock — Shares added 6.7% after The Wall Street Journal reported that the company is nearing a merger with Europe's Smurfit Kappa in a deal that could create a global paper and packaging giant
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