US stock futures were broadly subdued on Friday as investors awaited the release of a range of economic data, including fresh consumer spending data and the Federal Reserve’s preferred inflation gauge.
By 06:31 ET (10:31 GMT), Dow futures were mostly unchanged, S&P 500 futures had lost 5 points, or 0.1%, and Nasdaq 100 futures had fallen by 43 points or 0.2%.
Here are some of the biggest moves in US stocks before the market today:
Costco (NASDAQ:COST) reported fiscal fourth-quarter revenue that fell short of analysts’ estimates, as falling spending on big items and lower gas prices weighed on the members-only warehouse chain. The company’s shares fell 1.4% in early US trading in the wake of the report. They have gained about 38.5% so far this year.
Shares of Bristol-Myers Squibb (NYSE:BMY) jumped after US regulators approved the first new type of schizophrenia drug in decades. Labeling information for the treatment, Cobenfy, does not include a warning about a higher risk of mortality among some elderly patients, providing further support to the stock.
Shares of Cassava Sciences (NASDAQ:SAVA) fell after the drugmaker and two former executives agreed to pay more than $40 million to settle federal allegations that they made misleading statements about the outcome of a trial of a drug for the disease Alzheimer’s.
Shares of Dollar General ( NYSE:DG ) slipped after Citi analysts pointed out that market share gains made by rival Walmart ( NYSE:WMT ) will put pressure on the company.
Shares of HP Inc. (NYSE:HPQ) fell after Bank of America analysts downgraded the company to “neutral” from “buy” due to concerns about its printing division.
Online learning group Udemy ( NASDAQ:UDMY ) saw its share price fall after Morgan Stanley cut its rating to “Underweight” and warned of weak demand.
Shares of Wynn Resorts (NASDAQ:WYNN) rose after analysts at Morgan Stanley upgraded the company’s outlook to Overweight, arguing that it has become more attractive thanks to a lower valuation and opportunities in the United Arab Emirates.
Shares of Establishment Labs ( NASDAQ:ESTA ) rose after the medical technology company announced that it received U.S. approval for its Motiva breast implants.
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Reference;
Kanowsky, S. (2024) Costco dips premarket; Bristol-Myers Squibb, Wynn Resorts rise By Investing.com, Investing.com. Investing.com. Available at: https://www.investing.com/news/stock-market-news/costco-dips-premarket-bristolmyers-squibb-wynn-resorts-rise-3635930 (Accessed: 27 September 2024).
