See what companies are trending before the market opens. Eli Lilly – Eli Lilly shares rose 2% after FDA advisors recommended approval of the company’s Alzheimer’s drug donanemab. General Motors – The automaker’s shares rose more than 1% after the company’s board approved a $6 billion share buyback program. Shopify – The e-commerce stock rose about 1% after JPMorgan initiated coverage with an overweight rating. The investment firm said in a client note that the recent drop in Spotify shares is a buying opportunity. Apple – Apple shares fell less than 1% a day after the company unveiled its artificial intelligence plan, “Apple Intelligence,” at the Worldwide Developers Conference. The company also said Siri will utilize OpenAI’s ChatGPT. DXC Technology – DXC Technology shares rose 3% after Reuters reported that Apollo Global and Kindrill Holdings are making a joint takeover bid for information technology company DXC Technology.GameStop — GameStop shares were down 1% before the close, continuing their volatile trading. The video game retailer was down about 12% on Monday, extending its decline from Friday, driven by a surprise earnings report and meme stock leader Keith Gill’s first livestream in several years. Calabo Growers — Shares rose 15% after the avocado seller beat its latest quarterly estimates. Calabo Growers reported second-quarter profit of 50 cents a share on revenue of $184.4 million, beating the FactSet consensus estimate of 36 cents a share profit and $160.3 million. CEO Lee Cole attributed the strong results to “pricing and margin improvement in our core avocado business and tomato portfolio,” as well as improvements in the guacamole business. — CNBC’s Jesse Pound and Sarah Min contributed reporting
Biggest movers in premarket trading: LLY, GM, SHOP
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