🥇 First rule of investing? Know when to save! Up to 55% off InvestingPro before BLACK FRIDAYCLAIM SALE

Pfizer and Arcadium Lithium rise premarket; Apple, Amazon and Netflix fall

Published 10/07/2024, 07:22 PM
© Reuters
AAPL
-
AMZN
-
DD
-
PFE
-
NFLX
-

Investing.com -- US stock futures traded lower Monday, at the start of a busy week that will see the beginning of the new quarterly earnings season.

Here are some of the biggest premarket US stock movers today

  • Pfizer (NYSE:PFE) stock rose 3.4% after Bloomberg reported that activist investor Starboard Value has taken a stake of about $1 billion in the drugs giant, seeking to spur a turnaround of the struggling company.

  • Apple (NASDAQ:AAPL) stock fell 1.4% after Jefferies analysts downgraded its investment stance on the iPhone maker to “hold” from “buy”, citing concerns about the overestimated market expectations for the upcoming iPhone 16 and 17 models.

  • Netflix (NASDAQ:NFLX) stock fell 0.8% after Barclays downgraded the streaming giant to “underweight” from “equal weight”, citing its premium valuation.

  • Amazon (NASDAQ:AMZN) stock fell 1.8% after Wells Fargo downgraded the online retail giant to “equal weight” from “overweight”, citing multiple headwinds that are likely to pause the company's positive earnings revision story.

  • Hims Hers Health (NYSE:HIMS) stock rose 5.4% on the news that the telehealth group is indicated to join the S&P SmallCap 600, replacing fourth-largest American cigarette maker Vector Group (NYSE:VGR).

  • Arcadium Lithium (NYSE:ALTM) stock soared 30% after mining giant Rio Tinto (NYSE:RIO) announced a “non-binding” approach to purchase the lithium producer.

  • Mullen Automotive (NASDAQ:MULN) stock fell 4% after the maker of commercial electric vehicles announced cost cuts that include a 20% reduction in headcount.

  • DuPont (NYSE:DD) stock fell 1.8% after Barclays downgraded its stance on the chemicals company to “underweight” from “equal weight”, citing limited upside from its spin-off strategy.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.