As the US markets prepare to open, futures are showing a mixed sentiment with the S&P 500 (ES) up by 0.3%, the Nasdaq (NQ) ticking up by 0.2%, and the Russell 2000 (RTY) remaining flat. Here’s a closer look at some of the biggest pre-market movers making headlines today:

📈 Apple (AAPL) +0.3%

Apple shares are inching higher this morning as the company gears up for the iPhone 16 launch. Foxconn, Apple’s manufacturing partner, has reportedly added 50,000 workers at its Zhengzhou plant, a clear signal that production is ramping up ahead of the much-anticipated release. This move highlights the importance of the upcoming iPhone model in maintaining Apple’s dominant market position.

📈 Starbucks (SBUX) +2.3%

Starbucks is brewing up a strong start to the day, with shares up 2.3%. The catalyst? Activist investor Starboard Value has acquired a stake in the coffee giant. Starboard’s involvement typically signals potential operational changes or strategic shifts, which investors are likely viewing as a positive development for the company’s future.

📉 Tesla (TSLA) -0.3%

Tesla is facing a slight dip in its stock price, down 0.3%, after halting orders for the $61,000 base model of its Cybertruck. This decision could be a strategic move to focus on higher-margin variants or address production challenges, but it’s raising some concerns among investors about the company’s ability to meet demand.

📈 KeyCorp (KEY) +16.5%

KeyCorp is surging by 16.5% in pre-market trading following the news that Scotiabank is acquiring a 14.9% interest in the company for $2.8 billion at $17.17 per share. This significant investment from a major bank signals confidence in KeyCorp’s future prospects and is providing a strong boost to its stock price.

📉 Hawaiian Electric (HE) -14.5%

Hawaiian Electric is under pressure, plunging 14.5% after the company raised doubts about its ability to continue as a going concern due to uncertainties surrounding wildfire settlement financing. The situation adds significant risk to the stock, causing a sharp sell-off as investors weigh the potential fallout.

📈 Eli Lilly (LLY) +1.5%

Eli Lilly is gaining 1.5% after receiving an upgrade from Deutsche Bank. The upgrade is based on the company’s high growth outlook and low beta, which makes it an attractive option for investors seeking both stability and potential upside in the pharmaceutical sector.

📉 JetBlue Airways (JBLU) -10%

JetBlue is taking a hit, with shares down 10% following the announcement of plans to offer $400 million of convertible senior notes due in 2029. The move to raise capital is likely necessary for operational needs, but it’s diluting existing shareholders, leading to the sharp decline in stock price.

📉 Qualcomm (QCOM) -1.5%

Qualcomm is slipping by 1.5% after a downgrade from Wolfe Research. The downgrade suggests concerns over the company’s future earnings potential, possibly linked to the competitive pressures in the semiconductor industry and macroeconomic headwinds.

📉 B. Riley Financial (RILY) -48%

B. Riley Financial is experiencing a massive 48% drop in pre-market trading. The sharp decline follows disappointing preliminary Q2 results, the suspension of its dividend, and the news of a widening US probe into its risk disclosures. This trifecta of bad news is causing a severe loss of investor confidence.

As the market gears up for another trading day, these stocks will be the ones to watch closely. Keep an eye on the developments, as they could set the tone for broader market movements.