Check out the companies making the biggest moves in premarket trading: Oracle — The cloud services company advanced nearly 8% after announcing deals with Google and OpenAI. Oracle plans to make its database available to Google Cloud beginning in November, and also planned to partner with Microsoft and OpenAI for additional computing capacity. Paramount Global — Shares fell 2.3% after National Amusements halted talks with Skydance on a proposed merger with Paramount, per CNBC’s David Faber. Birkenstock — The stock shed 2.7% following a downgrade at Goldman Sachs to neutral from buy. While the bank likes the German shoe company’s investment thesis, it said shares have outperformed the broader luxury peer group. Birkenstock is up about 21% year to date. Rentokil Initial — U.S.-listed shares of the British pest control company surged 12% after Nelson Peltz’s Trian Partners said it amassed a significant stake in the firm. Klaviyo — The marketing automation stock added nearly 4% following an upgrade at Barclays to overweight from equal weight. The firm called Klaviyo a “rare bright spot among peers.” Rubrik — Shares rose 3.5% after the cloud data management company topped quarter expectations on revenue. Revenue came in at $187 million in revenue, versus the $172 million anticipated from analysts polled by LSEG. Broadcom — The stock moved 1.7% higher ahead of Broadcom’s quarterly earnings report after the bell Wednesday. Shares have been on fire this year, soaring more than 30%. Caseys General Stores — Shares gained 5% following the company’s earnings and revenue beat postmarket Tuesday. Earnings per share came in at $2.34 versus the $1.72 expected from analysts polled by FactSet. Revenue was $3.60 billion, compared to the $3.74 billion consensus estimate. — CNBC’s Sarah Min and Brian Evans contributed reporting.
https://image.cnbcfm.com/api/v1/image/107405932-1713984563726-gettyimages-2150017128-01-bb2_1497-_8mvpxvfy.jpeg?v=1718048466&w=1920&h=1080
Source link
