Stocks making the biggest moves premarket: Peloton, Shell, Compass and more

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Check out the companies making headlines before the bell:

Conagra (CAG) – The food producer's stock added 2% in the premarket after it reported better-than-expected quarterly profit and sales. Conagra also reaffirmed its full-year guidance.

Peloton (PTON) – Peloton slid 4.1% in premarket trading after announcing it would cut another 500 jobs, or about 12% of its remaining workforce following several previous rounds of job cuts. CEO Barry McCarthy told the Wall Street Journal he's giving the fitness equipment maker another six months or so to turn itself around and if it can't, Peloton is likely not viable as a standalone company.

McCormick (MKC) – The spice maker reported adjusted quarterly earnings of 69 cents per share, 7 cents below estimates, with revenue essentially in line with forecasts. McCormick said it is now recovering costs through pricing actions after a period which saw its expenses outpace product price increases. McCormick fell 1.1% in the premarket.

Compass (COMP) – Compass shares surged 11.4% in premarket trading, following an Insider report saying Vista Equity Partners is exploring a deal to take the real estate firm private.

Eli Lilly (LLY) – Lilly shares added 1% in the premarket after its diabetes drug tirzepatide received a «Fast Track» designation from the FDA for possible use to treat adults with obesity or overweight with weight-related comorbidities.

Twitter (TWTR) – Twitter remains on watch today amid multiple reports on the effort by Elon Musk and the social media company to finalize an agreement on his $44 billion takeover deal. The Wall Street Journal reported the two sides held unsuccessful talks about a possible price cut for the deal, and Reuters reports that private