Intel, Kellanova, Peloton rise premarket; Starbucks slips
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
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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.
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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.
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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.
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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.
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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.
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Cardinal Health (NYSE:CAH) stock rose 6.7% after the health care services company raised its 2025 fiscal year guidance after strong 2024 results.
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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.
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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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