Check out the companies that make headlines before the bell. Insmed – Stocks skyrocketed over 26%. Global Biopharmaceuticals Company announced positive results on Tuesday from a second-stage study of Treprostinil Palmitil inhaled powder, a once-daily treatment of pulmonary artery hypertension. According to JM Smucker – Factset, the food company’s shares pulled back around 8% after missing a consensus estimate of $2.14 billion in the fourth quarter. However, quarterly revenues beat expectations. The company’s guidance also missed expectations. Taiwan Semiconductor Manufacturing – The US-registered stock of chipmakers rose more than 2% after earnings increased 39.6% compared to last year. Revenues from January to May were 42.6% higher than the same period a year ago. Casey General Stores – Retail stocks rose more than 10% after a stronger than expected fourth quarter results. Casey won $2.63 per share with revenue of $3.99 billion. Analysts were expecting revenues of $1.94 per share and $3.93 billion per fact set. The company also hiked its dividend by 14%. Apple-iPhone manufacturers stock was slightly higher in pre-market transactions. The last session saw a 1.2% drop just after Monday’s annual global developer conference. The company has announced a prominent software update called Liquid Glass, but was unable to reveal any critical artificial intelligence updates. Tesla – Shares of the electric car maker rose more than 2% after surpassing Monday’s session. President Donald Trump said Monday that CEO Elon Musk “good” and “good” hopes, and that he has no plans to cancel Starlink at the White House. The pair had a public feud last week. But Musk brought heart emojis to the video of the president’s remarks about X. Calavo Growers – Avocado Distributor shares plummeted more than 14% after second quarter revenue and revenue fell weaker than expected. Calavo Growers posted adjusted earnings of 40 cents per share with revenue of $105 million, while analysts voted by FactSet were looking for revenue of $128 million, with revenue of 53 cents per share. McDonald’s – Fast food chain stocks fell nearly 2% in pre-market trading after Redburn Atlantic doubled its stock price. The Wall Street company also cited concerns about GLP-1 obesity drugs, pricing and expectations of curbed growth. – CNBC’s Jesse Pound and Yun Li contributed their report.
