Premarket Movers | Sapiens Soars 41%; CAVA Tumbles 23%; Luminar Plunges 15%; Rigetti Computing Drops 4%

Sapiens International shares soared 41% in premarket trading. Israeli software provider Sapiens International said on Wednesday that it will be acquired by Advent International for $2.5 billion in cash, as the U.S. private equity firm zeros in on the insurance industry amid an AI boom.

CAVA Group tumbled 23% in premarket trading on Wednesday, after the Mediterranean restaurant chain lowered its annual same-store sales growth target for the first time since it listed on the New York Stock Exchange two years ago.

Luminar shares plummeted 15% after the automotive technology company reported disappointing second-quarter results and significantly lowered its full-year guidance, citing slower vehicle production ramps and the winding down of non-core businesses.

Denison Mines shares sank 6% after saying it is offering $250M of convertible senior unsecured notes due 2031, with an underwriters option to purchase up to an additional $37.5M aggregate principal amount.

Centrus Energy intends to offer $650M of convertible senior notes due 2032 in a private offering. The shares dropped 5%.

Rigetti Computing reported a bigger-than-expected second quarter loss while revenue missed Wall Street consensus estimates. Financial results season is winding up for quantum computing stocks. Rigetti stock fell 4% on the Q2 results.