A pedestrian walks past a FedEx truck on June 20, 2023 in San Francisco, California.
Justin Sullivan | Getty Images
Here are the stocks that made notable moves before the opening bell.
FedEx – Shares rose more than 5% after fiscal first-quarter results beat expectations. FedEx reported adjusted earnings of $4.55 per share, above the $3.71 forecast by analysts surveyed by LSEG. At $21.7 billion, sales were slightly below expectations of $21.74 billion.
KB Home – The home builder’s stock fell more than 3% despite KB Home beating expectations in its third-quarter report. The company earned $1.80 per share on revenue of $1.59 billion. Analysts polled by LSEG expected $1.43 per share on revenue of $1.48 billion. The company said it expects its residential construction gross margin to shrink in the fourth quarter.
Klaviyo – The marketing automation company’s shares fell more than 1% after its stock market debut. Shares opened at $36.75 on the New York Stock Exchange on Wednesday. That was more than the company’s offering price of $30 per share.
Skyworks Solutions – Shares fell 1.3% after BNP Paribas Exane downgraded Skyworks Solutions from Outperform to Neutral and cut its price target to $110 from $115, according to FactSet.
Starbucks – Shares of the coffee giant fell slightly in premarket trading, losing 0.4%. On Tuesday, the company opened a $220 million sales and manufacturing facility in China, its latest attempt to expand in the country. Starbucks also announced plans to increase its quarterly dividend by 7.5% on Wednesday.
Netflix, Disney – Shares fell in premarket trading as writers and producers neared a possible end to the Writers Guild of America strike, people involved in the negotiations told CNBC’s David Faber on Wednesday. Netflix shares fell 0.8%, while Disney fell 0.7%.
Darden Restaurants – Olive Garden’s parent company fell 2.6% even as it beat first-quarter expectations of analysts surveyed by LSEG in both industries and reiterated its outlook for fiscal 2024. Fine-dining restaurants in Darden saw same-store sales decline 2.8%.
—CNBC’s Brian Evans, Jesse Pound and Alex Harring contributed reporting.