Stocks making the biggest premarket moves: Shake Shack, Virgin Galactic, Paramount and more

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Check out the companies making the biggest moves premarket:

Shake Shack — Shares of the quick-service restaurant chain rose slightly after reporting a narrower loss than expected and same-store sales rose 5% year over year. Revenue was in line with expectations.

Virgin Galactic Holdings — The space travel company gained nearly 3% in the premarket, a day after its Eve mothership had its first test flight since undergoing mechanical upgrades.

Paramount Global — The entertainment stock slumped 6% in premarket trading after Paramount missed estimates on the top and bottom lines for the third quarter. After adjustments, it earned 8 cents per share on $8.13 billion of revenue. Analysts surveyed by Refinitiv were expecting earnings of 23 cents per share on $8.16 billion of revenue. The company did add 9.9 million Paramount Plus subscribers, but reported a 7% decline in advertising revenue for its TV business.

Hasbro — The toymaker ticked about 1% higher after reporting a stronger-than-expected profit. Hasbro earned $1.31 per share, excluding items, topping a Refinitiv consensus estimate of $1.29 per share. Its revenue of $1.68 billion was in-line with estimates.

Tripadvisor — The online travel company fell more than 4% in the premarket after being downgraded by Bernstein to market perform from outperform. The Wall Street firm said Tripadvisor's strategic plan appeared more defensive than offensive. Tripadvisor outpaced fourth-quarter estimates on Wednesday.

Roku — The streaming device company rallied nearly 9% after reporting a narrower-than-expected loss of $1.70 per share, compared with $1.73 per share, per Refinitiv. Its revenue of $867 million topped estimates of $802 million.

Cisco Systems — The digital