Stocks making the biggest moves premarket: LLY, GM, SHOP
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Check out the companies making headlines before the bell. Eli Lilly — Eli Lilly shares rose 2% after a panel of FDA advisors recommended the approval of its Alzheimer’s drug known as donanemab. General Motors — The automaker’s stock added more than 1% after its board authorized a $6 billion stock buyback program . Shopify — The e-commerce stock rose about 1% after JPMorgan initiated coverage with an overweight rating. In a client note, the investment firm said the recent pullback in Spotify’s stock is a buying opportunity. Apple — Apple shares slipped less than 1% a day after the iPhone maker’s Worldwide Developers Conference, where it revealed its artificial intelligence plans , called Apple Intelligence. The company also said Siri will harness OpenAI’s ChatGPT. DXC Technology — Shares of DXC Technology rose 3% following a Reuters report that Apollo Global and Kyndryl Holdings are making a joint bid for the information technology company, reportedly offering between $22 and $25 a share. GameStop — GameStop shares slipped 1% before the bell, continuing its volatile ride. The video game retailer fell about 12% Monday , continuing a decline from Friday spurred by a surprise earnings report and meme stock leader Keith Gill’s first livestream in a few years. Calavo Growers — Shares jumped 15% after the avocado distributor beat its latest quarterly expectations. Calavo Growers posted second-quarter earnings of 50 cents per share on revenue of $184.4 million, topping the FactSet consensus estimates of 36 cents earnings per share in profit and $160.3 million in revenue. CEO Lee Cole attributed the strong results to “improved prices and margins in our core avocado business as well as in our tomato portfolio” and improvement in its guacamole business. — CNBC’s Jesse Pound and Sarah Min contributed reporting
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