Stock futures traded higher Wednesday and oil prices rebounded.
Here are some of the top movers during premarket trading on Wednesday.
1. ViacomCBS VIAC | Down 7.8%
Shares of ViacomCBS (VIAC) fell in premarket trading after the media and entertainment company priced $20 million shares of its Class B common stock at $85 a share. It priced 10 million shares of its 5.75% Series A Mandatory Convertible Preferred stock at $100 a share.
The company had said it would sell $3 billion in stock via two secondary offerings to boost funding for its streaming services, including Paramount +.
2. GameStop GME | Down 13.7%
Shares of GameStop (GME) plunged in premarket trading after the video game company reported fourth-quarter earnings that missed estimates and said in a filing that it was considering selling additional equity shares to fund its "future transformation initiatives and general working capital needs."
3. Intel INTC | Up 3.7%
Intel (INTC) stock traded higher Wednesday after the chipmaker said it would invest $20 billion to build two new factories in Arizona as it tries to address the worldwide chip shortage and take on rivals like Samsung and Taiwan Semiconductors (TSM) .
4. Tesla TSLA | Up 1.11%
5. General Mills GIS | Down 3.79%
Shares of General Mills (GIS) dropped in premarket trading Wednesday after the food producer reported third-quarter earnings that missed Wall Street estimates.
Revenue exceeded expectations and General Mills said it expects demand for food at home to remain elevated relative to pre-pandemic levels.