Stocks making the biggest moves premarket: PepsiCo, Intel, Philips and more

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Check out the companies making headlines before the bell:

PepsiCo (PEP) – The snack and beverage maker reported an adjusted quarterly profit of $1.97 per share, 13 cents above estimates, with revenue also topping forecasts. PepsiCo was able to successfully raise prices on its products and raised its guidance for the year. The stock gained 2.4% in the premarket.

Intel (INTC) – Intel added 1% in premarket trading following a Bloomberg report that the chip maker was planning to cut thousands of jobs to deal with a slumping personal computer market. Intel had 113,700 employees as of July.

Philips (PHG) – Philips shares slumped 8.1% in the premarket after the Dutch health technology company said its third-quarter core profit would be down about 60% from a year ago. The company also said it would take a nearly $1.3 billion charge against the value of its troubled respiratory care business.

Cameco (CCJ) – The uranium producer and power plant operator Brookfield Renewable Partners (BEP) will buy nuclear power equipment maker Westinghouse Electric in a deal worth $7.9 billion, including debt. Cameco tumbled 11.5% in premarket action, while Brookfield was unchanged.

Diamondback Energy (FANG) – Diamondback Energy announced a deal to buy energy producer FireBird Energy for $1.6 billion in cash and stock. Diamondback fell 1% in the premarket.

El Pollo Loco (LOCO) – El Pollo Loco shares rallied 15.2% in premarket action after the restaurant operator announced a $1.50 per share special dividend and a stock repurchase program worth up to $20 million.

CME Group (CME) – The exchange operator's stock was upgraded to buy from hold at Deutsche Bank, citing an attractive valuation after shares fell 33% from March's 52-week