MBLY, EPAM, MKC and more

Mobileye Global President and CEO Amnon Shashua and Intel Corp. during the company’s IPO in New York, USA on Wednesday, October 26, 2022. CEO Patrick Gelsinger outside the Nasdaq MarketSite.

Michael Nagel | Bloomberg | Good pictures

Check out the companies making the biggest moves in premarket trading:

Mobileye – Shares fell 5% after the Securities and Exchange Commission filed on Monday that the Intel subsidiary will sell 35 million Class A shares in a secondary offering. Mobileye does not receive any revenue from sales.

Coinbase – Shares of the crypto company fell more than 15% in premarket trading after the Securities and Exchange Commission sued Coinbase, alleging the company acted as an unregistered broker and exchange. The move comes shortly after the SEC filed a lawsuit against Binance on similar grounds.

Epam Systems – The software company fell 2.9%, a day after the company posted second-quarter earnings and revenue guidance that came in below analysts’ expectations. It also cut its full-year revenue and earnings guidance below analysts’ expectations.

Thor Industries – Shares of the RV manufacturer rose nearly 10% after the announcement Income and revenue pulse. The company raised its full-year revenue guidance.

McCormick – Shares added about 2% following a double upgrade from underperform to buy by Bank of America. The Wall Street firm called the stock a “growth staple,” citing easing volume pressures.

GitLab — Shares of the software development platform company jumped nearly 30% in premarket trading after Gitlab posted a smaller-than-expected loss in its first quarter. GitLab reported an adjusted loss of 6 cents per share on revenue of $126.9 million. Analysts polled by Refinitiv expected a loss of 14 cents a share on revenue of $117.8 million. Annual revenue increased by 45%.

FERGUSON — Shares of the distribution company fell 3.4% after Ferguson saw a 2% decline in net sales for its fiscal third quarter. Ferguson’s results beat analyst expectations with adjusted earnings of $2.20 per share on net sales of $7.14 billion. Analysts were expecting $2.16 in adjusted earnings per share on revenue of $7.09 billion, according to the Street Account.

JM Smucker – The food products stock rose 1% in premarket trading after JM Smucker posted fiscal fourth-quarter results. The company reported adjusted earnings of $2.64 per share on revenue of $2.23 billion. Analysts surveyed had expected $9.56 billion in earnings per share of $2.41, according to the Street Account. However, JM Smucker’s full-year earnings guidance was below analyst estimates of $9.20 to $9.60.

Apple – The iPhone maker is down less than 1% in premarket trading, a day after the iPhone maker unveiled its Vision Pro mixed reality headset. Wall Street analysts had mixed responses, with DA Davidson downgrading the stock to neutral.

— CNBC’s Jesse Pound contributed reporting.

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