These are the stocks posting the largest moves before the bell.Market Insiderread more
Damage to the top OPEC producer's oil facilities ignited fears of supply disruption around the world and has sent crude prices soaring.Energyread more
The second-largest investor in Kraft Heinz Company discloses that it has again trimmed its stake in the food company.Marketsread more
Retailers could be in for a jolly jump in holiday sales despite headwinds like the U.S.-China trade war and threat of another economic slowdown.Retailread more
After a series of setbacks on the road to an initial public offering, the parent company of real estate start-up WeWork is delaying the move, sources told CNBC Monday.Technologyread more
Apple isn't trying to blow our minds with groundbreaking new features on the iPhone 11, but is making lots of little improvements each year, this year focusing on cameras and...Technologyread more
The move is the latest sign of the blurring boundaries between big tech and big finance amid challenges for both industries.Financeread more
Traders in the fed funds futures market on Monday were pricing in a 34% chance that the Fed will stay put on rates.The Fedread more
Pizza Hut is also talking with Kellogg and other suppliers about the plant-based meat trend.Restaurantsread more
Saudi Arabia's defense spending is the world's third-largest — behind the U.S. and China, says Gary Grappo, former U.S. ambassador to Oman.Energyread more
Adidas shares fell 3% on Wednesday on news that one of the German sportswear company's top shareholders, Groupe Bruxelles Lambert (GBL), was preparing to sell a portion of its near 4 billion euro ($4.5 billion) stake, three traders said.
Belgian investment firm GBL was placing a tenth of its 7.5% holding, or 1.37 million shares, at 257.75 euros on the market for sale, a 1.7% discount to Tuesday's closing price, the traders added.
The sale is worth 353.1 million euros.
GBL and Adidas, whose shares hit record highs on Tuesday, declined to comment.
Adidas is in the midst of a share buyback, planning to repurchase 3 billion euros in stock between March 2018 and May 2021, which has gradually pushed up GBL's relative stake.
Adidas share price has more than doubled since GBL invested in the company as CEO Kasper Rorsted focused on improving profitability, expanding in North America and China and boosting online sales.
In GBL's recent annual report, it said it intends not to have a single asset exceeding 15 to 20% of its portfolio. Adidas made up 17.5% of GBL's portfolio at the end of March, with the stock's value surging to record highs this year.
At 0919 GMT, Adidas shares were down 2.6% at 255.4 euros and lagging the broader DAX index, which was down 0.5%.
GBL, founded by Belgium's richest man Albert Frere, who died in December at the age of 92, first invested in Adidas in 2015 with the purchase of a 3% stake.
GBL also holds stakes in some of Europe's biggest companies, including Pernod Ricard, LafargeHolcim, and Total.