Check out the companies making headlines before the market opens. Eli Lilly — Shares of Eli Lilly rose 2% after an FDA advisory panel recommended approval of Eli Lilly’s Alzheimer’s drug donanemab. General Motors — Shares of General Motors rose more than 1% after the automaker’s board of directors approved a $6 billion stock buyback program. Shopify — The e-commerce stock rose about 1% after JPMorgan initiated an overweight rating. The recent pullback in Spotify shares is a buying opportunity, the investment firm said in a client note. APPLE — Apple shares fell less than 1% in a day after the iPhone maker unveiled an artificial intelligence initiative called Apple Intelligence at the iPhone maker’s Worldwide Developers Conference. The company also said Siri will leverage OpenAI’s ChatGPT. DXC Technology — Shares of DXC Technology rose 3% after Reuters reported that Apollo Global and Kyndryl Holdings are jointly bidding for the information technology company, with an offer said to be between $22 and $25 per share. GameStop — Shares of GameStop fell 1% in pre-market trading and continued to be volatile. The video game retailer fell about 12% on Monday, extending Friday’s losses, spurred by an unexpected earnings report and meme leader Keith Gill’s first live broadcast in several years. Calavo Growers — Shares of Calavo Growers rose 15% after the avocado distributor beat its latest quarterly forecast. Calavo Growers reported second-quarter earnings of 50 cents a share on revenue of $184.4 million, beating the FactSet consensus estimate of 36 cents a share on revenue of $160.3 million. Chief Executive Officer Lee Cole attributed the strong results to “improving prices and margins in our core avocado and tomato portfolio” as well as improvements in the guacamole business. ——CNBC’s Jesse Pond and Saramin contributed reporting
