US stock futures traded marginally lower on Monday, kicking off the final session of the quarter with bearish trends ahead of a closely followed speech by Fed Chairman Jerome Powell.
Here are some of the biggest moves in US stocks before the market today
Shares of Stellantis (NYSE:STLA) fell 13% after the auto giant cut its full-year guidance and said it would burn more cash than expected, citing worsening industry trends, higher costs to overhaul its operations in the US and Chinese competition in electric vehicles.
Shares of Ford ( NYSE:F ) fell 3.3 percent and shares of General Motors ( NYSE:GM ) fell 3.7 percent, falling in the wake of Stellan’s comments about growing Chinese competition.
Boeing ( NYSE:BA ) shares fell 0.7% after the International Association of Aerospace Engineers and Air Force Ones said late Friday that wage settlement talks with the plane maker had broken off and that no further dates were scheduled for negotiations. at this moment.
Shares of Nio (NYSE:NIO) rose 12% after the Chinese electric vehicle maker unveiled a new cash infusion of nearly $2 billion from existing shareholders.
Shares of CVS Health (NYSE:CVS) rose 2.5% after the Wall Street Journal reported that Glenview Capital, the pharmacy company’s major shareholder, is expected to meet with CVS leadership to propose solutions for the troubled business.
Shares of AT&T (NYSE:T) rose 0.9% after the telecom giant said it is selling 70% of its stake in satellite TV service DirecTV to private equity firm TPG for $7.6 billion.
Shares of Autodesk ( NASDAQ:ADSK ) rose 0.5% after Morgan Stanley upgraded its view of the software group to “top pick,” citing accelerating earnings per share and revenue growth and a cheap valuation.
Shares of Procter & Gamble (NYSE:PG) fell 1% after Barclays cut its stance on the consumer goods giant to “equal weight” from “overweight,” citing its overexposure to slower-growing or declining markets , including China.
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Reference;
Nurse, P. (2024) Stellantis, Ford and Boeing fall premarket; AT&T and Nio rise By Investing.com, Investing.com. Investing.com. Available at: https://www.investing.com/news/stock-market-news/stellantis-ford-and-boeing-fall-premarket-att-and-nio-rise-3640046 (Accessed: 30 September 2024).
