Premarket movers: Constellation Brands tumbles, SpaceX debt plans weigh Pranav Kashyap Wed, October 7, 2026 at 7:23 AM EDT 4 min read STZ +2.08% INTC -3.18% ^GSPC +0.58% SPCX +0.49% TSLA +0.51% Explore stocks on Coinbase Trading disclosure Trading disclosure The above button links to Coinbase. Yahoo Finance is not a broker-dealer or investment adviser and does not offer securities or cryptocurrencies for sale or facilitate trading. Coinbase pays us for certain activity generated through this link. Prices displayed are informational.
Investing.com - U.S. stock futures pointed lower on Wednesday ahead of the release of key minutes from the Federal Reserve's latest policy gathering, as investors looked for clues on the central bank's interest-rate outlook.
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By 05:37 ET, the Dow futures contract had dropped 137 points, or 0.3%, S&P 500 futures had fallen 8 points, or 0.1%, and Nasdaq 100 futures had dipped 117 points, or 0.4%.
The main averages on Wall Street rose in the prior session, with an artificial intelligence-fueled rally pushing the S&P 500 and Nasdaq Composite to fresh record closing highs.
Intel shares rose 1% in premarket trading to around $113.50 after Elon Musk said TSMC will not own or operate the planned Terafab AI chip complex in Texas, easing concerns that Intel could lose its role in the project.
Musk confirmed that Tesla and SpaceX will build and operate the facility, while TSMC's potential involvement would be limited to subleasing part of the site. The clarification removed concerns that TSMC could displace Intel as Terafab's exclusive chip manufacturing development partner, a position Intel has held since April 2026.
Constellation Brands shares fell 4.9% in premarket trading after the company's fiscal second-quarter 2027 results showed stronger-than-expected earnings and revenue but a full-year profit outlook below analyst expectations.
The company reported adjusted earnings of $3.74 per share, above consensus estimates of roughly $3.55 to $3.61, while net sales rose 6% year over year to $2.63 billion, topping the $2.54 billion estimate. However, its reaffirmed fiscal 2027 adjusted EPS guidance of $11.20 to $11.90 had a midpoint of $11.55, below the analyst consensus of about $11.72.
Investors were also focused on continued weakness in beer volumes. Modelo Especial depletions fell roughly 2%, while Corona Extra declined about 5%, bringing total beer depletions down 0.6% for the quarter.
The company also announced the acquisition of SpikedAde, a vodka-based, zero-sugar ready-to-drink beverage brand, for $75 million upfront plus up to $278 million in contingent payments over five years. Citi reiterated its Buy rating and $165 price target following the results but acknowledged the below-consensus depletion figure as a headwind.
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Sigma Lithium shares surged nearly 5.9% in premarket trading after a Brazilian Federal Court of Appeals granted the company emergency suspensive relief, upholding its environmental licenses and allowing a full resumption of mining and industrial operations at the Grota do Cirilo complex in Minas Gerais.
The ruling, issued by Senior Federal Judge Mônica Sifuentes, overturned a September 8 emergency order from a local federal judge in Teofilo Otoni that had suspended the licenses following a lawsuit. The decision removes the key operational risk that had weighed on Sigma Lithium shares for nearly a month.
Marks & Spencer shares rose 2.3% in premarket trading to around $10.22, tracking gains in the company's London-listed ordinary shares. The stock's London shares rose 2.5% in the previous session, while the ADR opened at $10.24 and reached an intraday high of $10.28.
The U.S.-listed security closely follows the company's London trading because the ADR represents two ordinary shares each, translating the overnight gain in the U.K. directly into a premarket move.
Novavax and Moderna shares declined in premarket trading after both stocks surged in the previous session on reports of a suspected pneumonic plague case in Russia.
Novavax shares fell 11% during Tuesday's session after gaining 20%, while Moderna dropped 6% after rising 7% a day earlier. The iShares Biotechnology ETF also declined 3%, even as the S&P 500 gained 1%. The World Health Organization currently assesses the broader public health risk as low, while the suspected plague case remains unconfirmed and contacts have tested negative, according to Citi.
Space Exploration Technologies shares slid 1.9% in premarket trading after a report Tuesday evening said the company is seeking to raise $40 billion in debt to fund a massive Nvidia AI chip order.
The proposed financing would consist of roughly $10 billion in bank loans and $30 billion in investment-grade bonds, with Apollo Global Management expected to lead the deal and Pimco among the lenders in early discussions.
The financing plan is consistent with CEO Elon Musk's previously stated strategy of building SpaceX's AI infrastructure exclusively on Nvidia hardware. However, the scale of the proposed borrowing has raised investor concerns about the company's capital spending, particularly after first-half spending reached approximately $28.5 billion against only about $3.5 billion in operating cash generation. The transaction is expected to close in 2027..
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