Stocks making the biggest moves premarket: GM, MMM, NVS, NBIS
Check out the companies making headlines before the bell: Novartis — Shares jumped 4% after the Swiss pharmaceutical company posted second-quarter core earnings and revenue that exceeded expectations, adding that it “remains on track” to deliver on its full-year guidance and midterm outlook. Core earnings of $2.41 per share topped the StreetAccount consensus of $2.15 per share Revenue of $14.41 billion beat the $13.95 billion forecast. General Motors — The company earned an adjusted $3.57 per share on revenue of $48.03 billion. Analysts polled by LSEG expected a profit of $3.20 per share on revenue of $47.01 billion. Shares gained more than 1% on the back of the results. Danaher — The life sciences equipment manufacturer tumbled 14%. Danaher forecast third-quarter core revenue growth of 2%-3%, and lowered full year core revenue guidance to 3%-4% from 3%-6% previously, StreetAccount said. Second-quarter earnings and revenue topped Wall Street estimates, according to FactSet data. Utz Brands — The potato chip and pretzel maker soared 90% after agreeing to a buyout from Germany’s Intersnack Group for $14.25 a share in cash. The deal is expected to close in the fourth quarter, subject to regulatory approval. Domino’s Pizza — Shares of the pizza chain dropped 1% after Domino’s Pizza posted second-quarter earnings of $4.07 per share, which missed the LSEG consensus estimate of $4.17 per share. Revenue of $1.19 billion, on the other hand, slightly beat the expected $1.18 billion. Nebius Group — The AI cloud company rallied 6% after Nvidia disclosed a 9.3% stake in the Amsterdam-based company, which has turned into one of Europe’s leading neoclouds providing AI compute. MMM — The stock jumped more than 5% after the American conglomerate behind Scotch tape and Post-it notes posted second quarter earnings and revenue that beat expectations, and raised its full-year guidance. Taiwan Semiconductor Manufacturing — Shares popped more than 3% after Nikkei Asia, citing sources, reported the foundry will raise prices for chipmaking services by up to 10% next year. Crown Holdings — Shares of the supplier of beverage and industrial packaging climbed more than 2% after the company posted a beat on the top and bottom lines in its second quarter. Crown posted earnings of $2.49 per share, excluding items, on revenue of $3.67 billion. Analysts polled by FactSet were anticipating earnings of $2.16 per share on revenue of $3.37 billion. Steel Dynamics — The steel producer dipped 1% even after the company’s latest earnings beat on the top and bottom lines. However, the company posted an additional non-cash impairment charge of $16 million. Cracker Barrel Old Country Store — The restaurant chain gained more than 1% after the company said it expects to “achieve or exceed the high end” of its revenue range and “exceed its adjusted EBITDA outlook” for fiscal 2026, which ends July 31. — With additional reporting by CNBC’s Scott Schnipper
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