Intel, Kellanova, Peloton rise premarket; Starbucks slips

Investing.comAug 14, 2024 11:34 AM

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Investing.com -- U.S. stock futures traded largely unchanged Wednesday, as investors cautiously await the release of the latest crucial consumer prices data.

Here are some of the biggest premarket U.S. stock movers today

Intel (NASDAQ:INTC) stock rose 0.4% after a regulatory filing showed the chipmaker sold its 1.18 million share stake in Arm Holdings (NASDAQ:ARM), up 1.8%, in the second quarter, after saying earlier this month that it would cut more than 15% of its workforce and suspend its dividend amid a pullback in spending.
Kellanova (NYSE:K) stock rose 8% after the Wall Street Journal reported that chocolate giant Mars is looking to pay $83.50 for each share in packaged foods maker, a 12% premium to Tuesday’s close, while valuing the firm at over $30 billion.
Peloton (NASDAQ:PTON) stock rose 6.3% after the exercise equipment maker announced a partnership with Google's (NASDAQ:GOOGL) Fitbit (NYSE:FIT) to give its premium users access to its fitness content, starting early September.
Starbucks (NASDAQ:SBUX) stock fell 0.3%, handing back some of the previous session’s hefty gains after the coffee chain named Chipotle's (NYSE:CMG)'s Brian Niccol as its new CEO, replacing Laxman Narasimhan, who was at the helm for close to a year and a half.
UBS (NYSE:UBS) stock rose 3.2% after the Swiss banking giant reported an impressive second-quarter performance, detailing a net profit of $1.14 billion, comfortably surpassing forecasts.
Cardinal Health (NYSE:CAH) stock rose 6.7% after the health care services company raised its 2025 fiscal year guidance after strong 2024 results.
Tencent Holdings (HK:0700) (OTC:TCEHY) stock will be in focus after the world's largest video game company and operator of the WeChat messaging platform reported an 8% rise in second-quarter revenue, driven by a recovery in its gaming business.
Medtronic (NYSE:MDT) stock fell 0.6% after Stifel downgraded its stance on the medical device company to ‘hold’ from buy’, citing a difficult growth outlook.

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