Welcome to Extreme Investor Network, where we bring you the latest news and updates in the world of finance and investing. Today, we are looking at some companies that are making headlines in premarket trading.
1. Kellanova: Shares of the foodmaker rose more than 6% in premarket trading after agreeing to be acquired by snackmaker Mars for $83.50 per share in cash. This deal values Kellanova at about $36 billion and is expected to close in the first half of 2025.
2. Alphabet: Shares of Alphabet were down more than 1% after reports that U.S. regulators are considering a break-up of the tech giant. The potential divestiture of Google’s Chrome browser and Android operating system is being discussed if the Justice Department pushes for a break-up.
3. Flutter: The parent company of FanDuel saw its shares rise 6.3% after posting better-than-expected revenue in the second quarter and raising its full-year guidance. This sports betting company posted $3.61 billion in the second quarter, exceeding expectations.
4. Brinker International: Shares of the restaurant chain behind Chili’s plunged 15% after disappointing fiscal fourth-quarter earnings and weaker-than-expected full-year earnings guidance. Adjusted earnings of $1.61 per share fell below estimates.
5. Arm Holdings: U.S. shares of the British chip designer rose 1.7% after Intel sold its stake in the company. Intel’s move comes amid restructuring and cost-cutting efforts.
6. Cardinal Health: The healthcare company jumped 6.3% after reporting fiscal fourth-quarter results that beat expectations. Earnings per share of $1.84 and revenue of $59.87 billion exceeded analyst forecasts.
7. Starbucks: Shares of Starbucks pulled back about 0.3% in premarket trading following the announcement of a new CEO. Chipotle chief Brian Niccol will replace the current CEO, leading to upgrades from analysts.
8. EQT: The natural gas stock ticked higher by 1.1% following a Wells Fargo upgrade. The upgrade comes after a completed merger and positive earnings last month.
9. Illumina: Shares of the biotech company added 1.5% after an upgrade at TD Cowen to buy from hold. The recent management changes and guidance reset are expected to drive the stock higher.
Stay tuned to Extreme Investor Network for more updates on these companies and other investment opportunities. Make sure to stay informed and make smart investment decisions for your financial future.