Check out the companies making headlines in premarket trading. FedEx — Shares of delivery company fell more than 10% after FedEx’s fiscal second quarter missed estimates on the top and bottom lines. FedEx reported $3.99 in adjusted earnings per share on $22.17 billion of revenue. Analysts surveyed by LSEG were expecting $4.18 per share and $22.41 billion of revenue. FedEx also lowered its full-year revenue guidance. General Mills — Shares of the food products company fell 3% after General Mills reported revenue for its fiscal second quarter that was light of expectations. General Mills report $5.14 billion in revenue, while analysts surveyed by LSEG were expecting $5.35 billion. Organic net set sales were down 2% year over despite stronger pricing. Salesforce — Shares declined 1.3% after Wells Fargo on Wednesday downgraded Salesforce to equal weight from overweight as it evaluates stocks that will benefit from what it expects will be a steady shift toward growth in 2024. Winnebago — The recreational vehicles stock fell more than 4% after Winnebago’s earnings for the fiscal first quarter missed expectations. The company reported $1.06 in earnings per share, while analysts surveyed by StreetAccount expected $1.18 per share. Revenue fell nearly 20% year over year. Argenx — Shares of the Netherlands-based biotech company slid 23.5% after its therapy for an autoimmune condition that causes skin blistering failed to create significant results in a late-stage trial. UPS — Shares of the logistics and delivery company dipped 3% after rival FedEx reported disappointing second quarter quarter results. Marathon Digital — Shares of the crypto mining company rose 2%, building on its gain of 10.5% from Tuesday. That gain came after Marathon announced that it was acquiring bitcoin mining sites. — CNBC’s Sarah Min and Pia Singh contributed reporting
