Stocks making the biggest moves in the premarket: JM Smucker, Tiffany, Navistar, Costco & more

– The food producer reported quarterly earnings of $2.57 per share, beating the consensus estimate of $2.29 a share. Revenue also beat forecasts, driven by increased consumer demand resulting from the Covid-19 pandemic. Smucker did forecast a 1% to 2% decline in overall sales for fiscal 2021, owing to weakness in its "away from home" business. – The truck maker reported a loss of 38 cents per share for its latest quarter, 3 cents a share smaller than analysts were anticipating.

The deal was announced in November but has yet to close, and the pandemic and social unrest have weighed on Tiffany's results since that time. – The maker of networking equipment and services earned an adjusted 76 cents per share for its second quarter, well above the 49 cents a share consensus estimate. Revenue was also above Wall Street forecasts, and Ciena said it has sufficient resources to weather the pandemic.

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