Cisco Systems and Ball rise premarket; CVS, Wolfspeed and Tapestry lower

investing.com:

Investing.com — U.S. futures traded higher Thursday, rebounding after two consecutive days of losses amid more earnings from the retail sector and weekly jobless claims data.

Here are some of the biggest premarket U.S. stock movers today:

Cisco Systems (NASDAQ:CSCO) stock rose 2.2% after the networking equipment maker’s chief executive, Chuck Robbins, talked up market share wins and artificial intelligence opportunities.

Wolfspeed (NYSE:WOLF) stock slumped 17% after the EV chipmaker said its next loss would be more than previously expected, issuing disappointing future guidance.

Ball (NYSE:BALL) stock rose 3.1% after BAE Systems (LON:BAES) agreed to buy the packaging and aerospace manufacturing company's aerospace assets for about $5.55 billion.

Stellantis (NYSE:STLA) stock rose 0.6% after the automaker said it would invest more than $100 million in California's Controlled Thermal Resources, its latest bet on the direct lithium extraction sector.

Hawaiian Electric (NYSE:HE) stock fell 32% with the ongoing wildfires on Maui island likely to be expensive in terms of replacing infrastructure.