Coty and General Mills rise premarket; Instacart, Chewy and Dollar General fall
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Investing.com -- U.S. futures traded marginally higher Wednesday, as investors cautiously awaited the Federal Reserve’s latest interest rate decision and economic update.
Here are some of the biggest premarket U.S. stock movers today:
Instacart (NASDAQ: CART) stock fell 3.2%, handing back some of the 12% gains the online grocery delivery service generated in its first day of trading after a successful listing.
Apple (NASDAQ: AAPL) stock fell 0.2% after unions at the tech giant’s French stores called for a strike on Friday and Saturday ahead of the iPhone 15 launch, demanding better pay and working conditions.
Goldman Sachs (NYSE: GS) stock rose 0.3% after the investment bank’s asset management arm raised more than $15 billion for funds that enable investors to make secondary investments in existing private equity deals.
Coty (NYSE: COTY) stock rose 6.2% after the beauty company raised its raised its annual core sales forecast on the back of higher pricing and strong demand for its prestige fragrances.
General Mills (NYSE: GIS) stock rose 0.9% after the food processing group exceeded analysts' expectations for quarterly sales, as price hikes on its breakfast cereals, snack bars and pet food products helped cushion a blow from slowing demand.
Dollar General (NYSE: DG) stock fell 1.6% after JPMorgan downgraded the budget retailer to ‘underweight’ from ‘neutral’, saying its core low-end consumer is already under significant financial stress.
Chewy (NYSE: CHWY) stock fell 1.9% after Oppenheimer downgraded the pet food retailer to ‘perform’ from ‘outperform’, expecting the “challenging backdrop to persist for at least a few more quarters.”
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