Stocks making the biggest moves premarket: Hershey, Meta Platforms, Arm Holdings, Shake Shack and more

Check out the companies making headlines in premarket trading. Hershey — Shares were down 7% in the premarket after the chocolate maker posted second-quarter results that missed analyst expectations. The company earned $1.27 per share on revenue of $2.07 billion. Analysts polled by LSEG expected a profit of $1.43 per share on revenue of $2.31 billion.

Moderna — Shares tumbled nearly 11% after the drugmaker cut its full-year sales guidance before the bell. Moderna said it expects competition for respiratory vaccines in the U.S, lower sales in Europe and the potential for deferred international revenue. However, the company reported a revenue beat for the second quarter and narrower-than-expected loss per share. Arm Holdings — The chipmaker slid more than 9% after a disappointing earnings forecast for the fiscal second quarter.

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