Stocks making the biggest moves premarket: Nvidia, Apple, Kellanova and more

Ahead of the bell, here are the companies grabbing headlines today.

Semiconductor giants – Nvidia saw its stocks dive almost 12.5% during premarket trading as the artificial intelligence sector downturn affects prominent semiconductor stocks.   Broadcom decreased around 9%, and both Super Micro Computer and Arm Holdings slipped more than 12%.

Apple – The tech titan’s stocks slipped over 6% following the revelation that Warren Buffett’s Berkshire Hathaway offloaded nearly 50% of its Apple holdings. This dip coincided with a broader market sell-off on Wall Street.

Tech Stalwarts – Big names in the tech industry were hit hard in Monday’s international market sell-off. Meta, the parent company of Facebook and Amazon experienced a 6% tumble, while electric car pioneer Tesla shed approximately 8.3%. Microsoft lost 4.3%.

Lucid – The electric vehicle stock retreated around 8% ahead of their Q2 results set to be announced post-market close. FactSet analysts predict a quarterly loss of 27 cents per share on a revenue of $190.3 million.

Kellanova – Reports from Reuters and The Wall Street Journal spurred a 21% surge in the snack food company’s stock, suggesting that the company is in talks with Mars for a potential buyout. This deal could potentially value Kellanova at $30 billion.

Crypto – As Bitcoin fell below $50,000 for the first time this year, linked stocks took a major hit in premarket trading. Coinbase shed 13%, MicroStrategy took a 17% hit, and Marathon Digital lost 13%. Other crypto miners also saw a two-digit drop. Robinhood, with its crypto trading branch, slid 9%.

Palantir – The software firm’s shares nosedived almost 12.2% ahead of its post-market close earnings report. FactSet analysts predict Q2 revenues of $653.2 million for Palantir, which is above the company’s forecast of $649-$653 million. They also forecast a Q2 earnings of 8 cents per share.