General Mills lower in premarket; Birkenstock, Target and Best Buy higher

Investing.com — Here’s a look at the biggest movers in early premarket trading on Wednesday.

• ChargePoint Holdings (NYSE:CHPT) shares rose 9% on a collaboration with General Motors (NYSE:GM) to install hundreds of ultra-fast electric vehicle charging ports across the U.S. by way of an incentive program with third-party operators.
• General Mills (NYSE:GIS) shares slid 4% as the company targeted organic sales for the full year at the lower end of previously given ranges due to higher promotional investments. The food company also reduced the top end of its earnings forecast.
• Birkenstock (NYSE:BIRK) shares rose 7.9% premarket after the footwear company’s revenue and earnings for the fourth quarter topped expectations.
• Shares in Target (NYSE:TGT) and Best Buy (NYSE:BBY) rose around 1% after the retailers were added to the tactical outperform list at Evercore ISI.
• Heico (NYSE:HEI) stock was down 5.7% after the manufacturer’s sales fell short of estimates, driven by a decline across the electronic technologies group.
• Ollie’s Bargain Outlet (NASDAQ:OLLI) rose 3% after Citi double-upgraded the retailer to buy, removing the stock’s only negative rating.