10 Stocks Moving In Wednesday's Pre-Market Session

Gainers

Ionis Pharmaceuticals Inc IONS shares rose 11.38 percent to $46.50 in pre-market trading. Ionis Pharmaceuticals and Merck reported that they have received positive verdict on Gilead’s HCV drug patent case.

Affymetrix, Inc. AFFX rose 3.34 percent to $14.85 in pre-market trading as Origin Technologies increased its offer for Affymetrix to $17 per share.

Ambarella Inc AMBA shares gained 1.77 percent to $41.47 in pre-market trading after surging 4.09 percent on Tuesday.

MannKind Corporation MNKD shares rose 1.40 percent to $2.17 in pre-market trading after gaining 1.42 percent on Tuesday.

Yum! Brands, Inc. YUM shares gained 0.58 percent to $79.44 in pre-market trading after dropping 0.67 percent on Tuesday.

Find out what's going on in today's market and bring any questions you have to Benzinga's PreMarket Prep.

Losers

Krispy Kreme Doughnuts KKD shares fell 9.30 percent to $13.95 in pre-market trading. Krispy Kreme reported better-than-expected earnings for its fourth quarter, but the company missed analysts’ sales estimates. The company also issued a weak earnings outlook for fiscal 2017.

Nike Inc NKE shares fell 4.79 percent to $61.82 in pre-market trading. Nike reported stronger-than-expected earnings for its third quarter on Tuesday. However, the company’s sales missed analysts’ expectations.

Francesca's Holdings Corp FRAN shares fell 4.56 percent to $16.55 in pre-market trading. Francesca's reported better-than-expected Q4 earnings and announced an additional $100 million buyback plan. The company also named Kelly Dilts as CFO and issued a weak earnings forecast.

Michaels Companies Inc MIK shares fell 3.16 percent to $26.08 in pre-market trading as the company reported a 17 million share offering of common stock by selling holders. The company intends to buy back 2 million shares of the secondary offering.

Red Hat Inc RHT shares fell 1.73 percent to $74.40 in pre-market trading. Red Hat reported upbeat results for the fourth quarter on Tuesday. However, investors were somewhat disappointed for the outlook that management provided for the current quarter.