Smithfield Foods shares fall 1.61% premarket after pricing secondary offering at $23.25 per share.

Smithfield Foods, Inc. declined 1.61% in premarket trading. The company announced the pricing of an upsized secondary share offering at $23.25 per share, which may have led to the stock's decline as investors reacted to the potential dilution of existing shares. Additionally, WH Group Ltd, the parent company of Smithfield Foods, also priced a secondary share offering, further contributing to the negative sentiment.