Stocks making the biggest moves premarket: NVDA, AAPL, K
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Check out the companies making headlines before the bell: Chip stocks — Nvidia shares fell roughly 12.5% in premarket trading as the artificial intelligence trade continues to unwind, dragging down once-hot semiconductor plays. Broadcom slipped about 9%, while Super Micro Computer and Arm Holdings shed more than 12% each. Apple — Apple shares sank more than 6% after Warren Buffett’s Berkshire Hathaway revealed it sold nearly half its stake in the iPhone maker. The declines also came as a global market sell-off ramped up on Wall Street. Tech stocks — Major tech stocks were among the biggest losers of Monday’s global market sell-off. Facebook parent Meta and Amazon slid more than 6% each, while electric vehicle maker Tesla lost about 8.3%. Microsoft shed 4.3%. Lucid — The electric vehicle stock pulled back about 8% ahead of the company’s second-quarter results due out after the closing bell. Analysts polled by FactSet forecast a loss of 27 cents per share for the second quarter on $190.3 million in revenue. Kellanova — The snack food stock jumped 21% on the heels of reports from Reuters and The Wall Street Journal that the company is in discussions with candy maker Mars about a potential acquisition. The deal could value Kellanova at roughly $30 billion, according to the Journal report. Crypto — Stocks tied to the price of bitcoin were among the hardest hit in premarket trading as the flagship cryptocurrency dropped below $50,000 for the first time this year. Coinbase slid 13%, while MicroStrategy tumbled 17%. Marathon Digital lost 13% and other miners were down double digits as well. Robinhood , which has a crypto trading business, fell 9%. Palantir — Shares of the software company plunged nearly 12.2% ahead of its earnings due after market close. Analysts polled by FactSet expect Palantir to report second-quarter revenue of $653.2 million versus guidance, higher than the company’s forecast of revenue in the range of $649 million to $653 million. Analysts also expect earnings of 8 cents per share for the quarterly period, per FactSet. — CNBC’s Tanaya Macheel, Samantha Subin, Jesse Pound and Brian Evans contributed reporting.
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