Intel and Chipotle Lead the Pack in Pre-Market Stock Movers

The stock market is buzzing with activity as investors eagerly await the Federal Reserve’s meeting, where rate-cut projections are expected to take center stage. Amidst the anticipation, several stocks are making significant moves in pre-market trading.

Here are some of Wednesday’s biggest stock gainers:

Chipotle Mexican Grill (NYSE:CMG) – up more than 5%

PDD Holdings (NASDAQ:PDD) – up 4%

Intel (NASDAQ:INTC) – up 3%

Chipotle Mexican Grill (NYSE:CMG) is one of the biggest gainers, with shares rising more than 5% after the company announced a 50-for-one stock split and a special one-time equity grant for its long-serving employees. The move is expected to make the stock more accessible to a wider range of investors and reward the company’s loyal workforce.

NYSE:CMG chart by TradingView

NYSE:CMG chart by TradingView

“Chipotle’s stock split and equity grant demonstrate the company’s commitment to its employees and shareholders,” said Tobi Opeyemi Amure, an analyst at Trading.Biz. “This move could attract more retail investors and boost the stock’s liquidity.”

PDD Holdings (NASDAQ:PDD) is another notable gainer, with shares up 4% ahead of its Q4 earnings results. Analysts are expecting:

EPS of $1.54, a 27.3% Y/Y increase

Revenue of $10.85B, an 88.0% Y/Y growth

PDD has a strong track record of beating estimates, and recent revisions suggest a positive outlook for the company.

Intel (NASDAQ:INTC) is also making headlines, with shares rising 3% after the White House announced that the company has been awarded up to $8.5B in CHIPS Act funding. This is part of the Biden administration’s efforts to bolster domestic semiconductor manufacturing. Intel could also receive an additional $11B in loans from the CHIPS and Science Act.

On the other hand, Aquestive Therapeutics (NASDAQ:AQST) shares plunged over 14% after pricing a public offering below the current trading price. The company intends to use the proceeds to advance its product pipeline and for general corporate purposes.

NuScale Power (NYSE:SMR) also continued its decline, with shares falling 5% in Wednesday morning trading after a significant drop on Tuesday. The company faces challenges in attracting customers and its technology is currently not cost-competitive with other generation sources.

As the stock market continues to evolve, investors should keep a close eye on these big movers. While some companies, like Chipotle and PDD Holdings, are showing strong potential, others, such as Aquestive Therapeutics and NuScale Power, are facing significant challenges.

As always, it’s essential to conduct thorough research and consider various factors before making any investment decisions.

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