Stocks making the biggest moves premarket: Hanesbrands, On Holding, Circle, BigBear.ai and more
Check out the companies making headlines before the bell: Hanesbrands , Gildan Activewear — The T-shirt maker surged more than 42% after the Financial Times reported , citing people familiar with the matter, that Hanesbrands was nearing a deal to be acquired by Gildan for nearly $5 billion. Gildan shares slid more than 5%. Sinclair — Shares soared more than 18% after Sinclair, one of the largest owners of television stations, started a strategic review of its business that could result in a merger or spinoff of its Ventures business. On Holding AG — U.S. shares of the Swiss sportswear company rallied about 11%. On reported second-quarter revenue of 749 Swiss francs, exceeding the expectation for 705 million francs from analysts polled by LSEG. The company also hiked its full-year revenue guidance. Celanese — The chemical manufacturer tanked 15% after the company’s CEO said demand remains weak and uncertain, overshadowing a second quarter earnings beat. BigBear.ai — The IT service management company plunged more than 30% after disappointing second quarter results. BigBear.ai lost 71 cents per share, more than a loss of 6 cents per share estimated by analysts polled by FactSet. Revenue of $32.5 million trailed the Street’s $40.6 million forecast. Circle Internet Group — The stablecoin issuer reported strong revenue growth in its first quarterly earnings as a publicly-traded company. The stock rose more than 6%. Intel — President Trump called the CEO Lip-Bu Tan a “success” days after demanding his resignation. Intel shares rose 2% in premarket trading. The semiconductor maker has been in Trump’s crosshairs, who has gone back and forth in his approach to the CEO. Nvidia — The chipmaker was slightly lower Tuesday. President Trump said he’s open to allowing Nvidia to sell a downgraded version of its most advanced artificial intelligence chip to China. Apple — The iPhone maker was lower by almost 1% after Tesla CEO Elon Musk on Monday threatened legal action against Apple over alleged antitrust violations on rankings of the Grok AI chatbot app that’s owned by Musk’s artificial intelligence startup xAI. Tesla rose 0.5%. — CNBC’s Alex Harring, Fred Imbert and Yun Li contributed reporting
