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Coty and General Mills rise premarket; Instacart, Chewy and Dollar General fall

Published 20-09-2023, 05:44 pm
© Reuters

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 (NYSE:JPM) 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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