Check out the companies making headlines in premarket trading. Chipotle — Shares rose 6.6% in premarket trading after the fast-casual Mexican chain announced a 50-to-1 stock split. The change, which was shared with the public on Tuesday, is expected to go into effect in June if approved by shareholders in a vote scheduled for earlier that month. Elsewhere, Deutsche Bank raised its price target on the stock, citing strong growth prospects.
General Mills also reaffirmed its full-year outlook Signet Jewelers — Shares pulled back more than 7% after first-quarter revenue guidance missed Wall Street estimates. The firm expects revenue in the range of $1.47 billion to $1.53 billion, while analysts polled by FactSet forecast $1.61 billion. PDD Holdings —Shares soared more than 17% after the company beat analyst estimates for revenue in the the fourth quarter. The firm reported revenue of 88.