Stocks making the biggest moves in the premarket: GlaxoSmithKline, MicroStrategy, Shake Shack & more

Stocks making the biggest moves in the premarket: GlaxoSmithKline, MicroStrategy, Shake Shack & more

(GSK) – The drugmaker's stock rose 3.5% in the premarket after it detailed plans to spin out its consumer health-care business into a separate company. Glaxo will eventually receive an $11 billion payment from the new company. (MSTR) – MicroStrategy rallied 4.4% in premarket trading, trading in sync with the price of bitcoin. The business analytics company holds several billion dollars worth of bitcoin and took advantage of the recent price drop to buy more. (SHAK) – Shake Shack announced an expansion of its footprint in China, where it currently has 16 restaurants. It will open 10 restaurants in new territories by 2031, and plans to have a total of 79 China locations by that time. Shake Shack gained 1.5% in premarket action. (WGO) – The recreational vehicle maker reported quarterly earnings of $2.16 per share, well above the consensus estimate of $1.77 a share. Revenue also topped Wall Street forecasts by doubling to record levels. Sales of towable products nearly tripled from a year earlier. (MSFT) – Microsoft became the second company to surpass a $2 trillion market value, achieving that mark during Tuesday's session. (AAPL), currently worth $2.2 trillion, was the first. (CARR) – Carrier shares rose 1.9%