Premarket Movers Wednesday - Intel, GameStop, General Mills, Tesla

Stocks moving in premarket trading on Wednesday include ViacomCBS, GameStop, Intel, Tesla and General Mills.
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Stock futures traded higher Wednesday and oil prices rebounded.

Dow Futures Lead Wall Street Rebound as Bond Yields Steady, Oil Jumps

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) - Get Report 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) - Get Report 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) - Get Report.

4. Tesla TSLA | Up 1.11%

Shares of Tesla  (TSLA) - Get Report rose in premarket trading after CEO Elon Musk said the electric vehicle maker would begin accepting cryptocurrency payments in bitcoin for its cars.

5. General Mills GIS | Down 3.79%

Shares of General Mills  (GIS) - Get Report 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.

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