Check out the companies making the biggest moves premarket: Nike — The apparel company fell more than 3% after it reported a sales decline of 12% in the Greater China market. Despite the significant decline in a key market, Nike still reported an earnings and revenue beat in its fiscal fourth-quarter financial report. Constellation Brands — Shares of the alcohol producer were up about 1.5% after the company delivered beats in its first quarter earnings report. Constellation reported earnings of $3.43 per share, higher than analysts polled by LSEG’s estimates for $3.20 per share. Revenue also came in above expectations, while its full-year earnings guidance was about in-line with estimates. Shutterstock , Getty Images — The stocks tumbled after Getty called off a proposed merger with Shutterstock due to demands from a U.K. regulator . Shutterstock fell sharply, off more than 30%, while Getty declined 4%. Alcoa — The aluminum company fell 4% after it announced a definitive agreement to acquire some of South32’s, a mining and metals company, assets. Totaling $4.1 billion, the transaction will see Alcoa acquire South32’s bauxite, alumina and aluminum portfolio. Salesforce , ServiceNow — Shares of the software companies were up after Guggenheim upgraded both to buy, believing that artificial intelligence won’t be a death knell for the companies and attractive valuations in the stocks. ServiceNow rose more than 5%, while Salesforce was up nearly 4%. Bloom Energy — The stock was up more than 7.5% after it announced an expanded partnership with investment firm Brookfield to finance power for artificial intelligence infrastructure projects. Bloom said in a press release the expansion shows sustained demand from AI infrastructure developers. Kroger — Shares of the retailer were off 2% after the company announced it will acquire Giant Eagle, a food and pharmacy retailer, for $1.65 billion. Kroger CEO Greg Foran said in a press release that the acquisition expands the company’s reach into attractive adjacent markets. Sandisk , Micron Technology — Shares of the memory players were lower in the first day of trading for the third quarter, after both more than tripled in the second quarter that concluded on Tuesday. Sandisk tumbled 3.5%, while Micron was off about 2.5%.
Stocks making the biggest moves premarket: NKE, NOW, STZ
