GME - Hot Stocks: GME rises on stock split; SGEN climbs on MRK interest; BBBY insider buying; USNA slips on earnings news

Meme stock favorite GameStop ( NYSE: GME ) returned to the spotlight in Thursday's premarket trading. Shares rallied after the company announced a stock split.

Seagen ( SGEN ) received a premarket boost as well, thanks to reports that it is near a deal to be acquired by Merck ( MRK ). Bed Bath & Beyond ( BBBY ) also experienced strength, bolstered by news of stock purchases by the company CEO and other insiders.

Meanwhile, USANA Health Sciences ( USNA ) was among the standout decliners in premarket action. Shares slipped following the release of disappointing preliminary results.

Gainers

GameStop ( GME ) rallied almost 7% in premarket trading after announcing a four-for-one stock split . The video game retailer said the split will take effect at the close of business on July 21 for shareholders of record on July 18.

Stock splits are often used to make a company's stock more attractive to retail investors. As one of the highest-profile meme stocks, GME has received significant support from retail investors, through interest on online forums like Reddit's WallStreetBets.

Elsewhere, Seagen ( SGEN ) also showed premarket strength on reports that the firm is in advanced talks to be acquired by Merck ( MRK ). According to the Wall Street Journal, the deal could be worth about $40B or more, with a per-share price above $200.

The WSJ noted that the companies are hoping to reach a deal before MRK announces its quarterly results on July 28. On the report, SGEN advanced more than 4% in premarket action. In mid-June, SGEN popped on a previous report detailing MRK's interest in the stock .

Elsewhere in the market, Bed Bath & Beyond ( BBBY ) saw buying interest after several insiders picked up shares. The retailer's new CEO Sue Gove bought 50K shares of company stock, with a couple of board members also making recent buys.

BBBY saw its stock rise about 6% before the opening bell.

Decliner

The release of preliminary Q2 results sparked premarket selling in USANA Health Sciences ( USNA ). The disappointing figures sent shares of the nutritional supplements company lower by 6%.

The company said it will post Q2 EPS of around $1.05, falling sharply from last year's figure of $1.87 and well below the $1.26 expected by analysts. Revenue similarly missed projections, with USNA calling for a figure around $265M versus a consensus estimate near $273M.

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