Premarket Movers | Neogen Surges 13%; Penguin Solutions Jump 9%; Intel Gains 2%; SpaceX Falls 2%; Crypto Stocks Drop

Neogen reported first-quarter results that exceeded analyst expectations and raised its full-year guidance, sending shares up 12.7% in premarket trading as the food safety solutions company demonstrated improved operational execution.

Penguin Solutions reported fourth quarter results that exceeded analyst expectations and raised its fiscal 2027 outlook, driven by accelerating demand for its AI infrastructure platform. Shares rose 8.7% following the announcement.

Sigma Lithium shares rose over 7% in premarket trading after a Federal Court of Appeals upheld the company's environmental licenses, enabling the resumption of mining-industrial operations.

Intel shares gained 2.1% in premarket trading. Intel Corp will continue to work with Elon Musk on ​his Terafab project, Bloomberg News reported ‌on Wednesday.

SpaceX shares fell 1.8% in premarket trading. SpaceX plans to raise $40 billion, led by asset manager Apollo Global Management, for purchasing Nvidia ​AI chips, the Financial Times reported on Tuesday, citing people ‌familiar with the matter.

Crypto stocks dropped in premarket trading. Bitmine fell 3%; Strategy, Circle, and Coinbase fell 2%; Robinhood fell 1%.

Constellation Brands reported second quarter results that exceeded analyst expectations, but shares fell 4.8% as the company’s full-year earnings guidance came in below Wall Street estimates.