Investing.com - Stocks in focus in premarket trading on Wednesday:
• Mattel (NASDAQ:MAT) stock surged 19.5% in premarket trade by 8:20 AM ET (11:20 GMT) after its third-quarter estimate surpassed expectations, with doll sales up 5% and vehicle toys gaining 13%.
•Yum! Brands (NYSE:YUM) stock fell 4.5% after its earnings and revenue came in short of forecasts, hit by weak sales at its Pizza Hut and KFC chains.
• Johnson&Johnson (NYSE:JNJ) stock gained 2.8% after it said that 15 new tests on its baby powder found no asbestos in the recalled lot that was previously tested by the Food and Drug Administration.
• Fiat Chrysler (NYSE:FCAU) stock inched up 0.5% adding to Tuesday's gains, made when it confirmed it is in talks with Peugeot owner PSA Group on a possible merger.
•Electronic Arts (NASDAQ:EA) stock slipped 0.5% after it canceled an update for its NBA game for this year. Separately, the game maker's top and bottom line came in better than expected due to strong digital sales.
• General Electric (NYSE:GE) stock jumped 8.4% after it raised its forecast for cash flow this year despite posting a net loss of $9.5 billion on more writedowns.