U.S. stocks lower as investors rotate out of tech ahead of Jackson Hole
Investing.com -- U.S. stock futures traded largely unchanged Tuesday, as investors digested the results of the summit between U.S. President Donald Trump and Ukraine President Volodymyr Zelensky ahead of this week’s Jackson Hole symposium.
Here are some of the biggest premarket U.S. stock movers today:
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Home Depot (NYSE:HD) stock rose 0.4% after the world’s largest home-improvement retailer said comparable sales grew 1% in the fiscal second quarter, but also indicated that consumers were staying away from big purchases.
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Intel (NASDAQ:INTC) stock rose 5.4% after the Japanese tech conglomerate Softbank (OTC:SFTBY) agreed to buy $2 billion worth of stock in the beleaguered chipmaker with the goal of building advanced chipmaking facilities in the United States.
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Palo Alto Networks (NASDAQ:PANW) stock surged 6.2% after the cybersecurity company forecast fiscal 2026 revenue and profit above estimates, betting on growing demand for its artificial intelligence-powered solutions.
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Eli Lilly (NYSE:LLY) stock rose 1% after Chairman David Ricks bought $1.1m worth of stock, implying confidence in the drugmaker’s future prospects.
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Novo Nordisk (CSE:NOVOb) (NYSE:NVO) stock rose 1.1% after Canada’s health regulator approved its diabetes drug, Ozempic, for reducing the risk of kidney failure and disease progression, as well as death due to heart problems in diabetes patients with chronic kidney disease.
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Anheuser Busch Inbev (EBR:ABI) (F:BUDy) ADRs rose 1.1% after the brewer said that it would invest $15 million in its U.S. brewery, at a time when President Donald Trump is pushing to boost domestic production.
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Medtronic (NYSE:MDT) stock fell 3% after the healthcare technology giant said it would add two new directors to its board after Elliott Investment became one of its largest shareholders, overshadowing strong first-quarter earnings and raised full-year earnings guidance.
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Black Hills (NYSE:BKH) stock fell 3.6% after the utility company said it would buy peer NorthWestern Energy Group for $3.6 billion, with the per-share value of about $59 implies a premium of 7.66%.
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Viking Therapeutics (NASDAQ:VKTX) stock slumped 36% after the biopharmaceutical company announced its oral weight-loss pill only met expectations in a mid-stage study, defying hopes for a block-buster result.