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

Safra Catz, CEO of Oracle Corporation, rings the opening bell at the New York Stock Exchange, 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 earnings 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, formerly known as Refinitiv. 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% during 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% during premarket trading 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%.

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