NEWS AFFAIRS 7 : WHERE EVERY STORY HAS IT'S AFFAIR!
On Friday, U.S. stock futures saw a rebound after recent significant losses, driven by anticipation of key inflation data. Investors are keenly watching market movements and premarket trading activities. Here’s a closer look at some of the biggest premarket movers today.
3M Company (NYSE: MMM)
3M stock jumped 6.5% in premarket trading. The industrial conglomerate raised the lower end of its full-year adjusted profit forecast, thanks to restructuring measures and increasing demand for electronics. This positive outlook has boosted investor confidence, contributing to the stock’s rise.
Bristol-Myers Squibb (NYSE: BMY)
Bristol-Myers Squibb’s stock rose 4.6% after the company reported better-than-expected second-quarter results. The growth was driven by new products like the anemia treatment Reblozyl and heart drug Camzyos, along with its top-selling blood thinner Eliquis. The strong performance from these drugs has fueled optimism among investors.
Apple (NASDAQ: AAPL)
Apple’s stock increased by 1.1%, benefiting from the overall positive market sentiment. This rise comes despite a 6.7% decline in its smartphone shipments in China during the second quarter of 2024, as reported by market research firm Canalys. Investors remain optimistic about Apple’s long-term prospects.
Novo Nordisk (CSE: NOVOb) (NYSE: NVO)
Novo Nordisk’s stock edged up 0.6% following positive news about its blockbuster weight loss drug, Wegovy. The European Union’s medical regulator backed the drug to reduce heart risks, providing a significant boost to the company’s outlook and investor sentiment.
Deckers Outdoor (NYSE: DECK)
Deckers Outdoor saw its stock soar 12% in premarket trading. The company, known for its athletics shoes and apparel, raised its annual profit forecast after beating first-quarter expectations. This strong performance has led to increased investor confidence in the company’s future growth.
Dexcom (NASDAQ: DXCM)
Dexcom’s stock plummeted 37% after the medical device maker cut its annual revenue forecast. The company cited fewer new customers than expected as the primary reason for the reduced outlook. This news has significantly impacted investor sentiment, leading to a sharp drop in the stock price.
Baker Hughes (NASDAQ: BKR)
Baker Hughes’ stock rose 1.9% after the oilfield services firm reported better-than-expected second-quarter profits. The strong international performance contributed to the positive results, boosting investor confidence and driving the stock higher.
Charter Communications (NASDAQ: CHTR)
Charter Communications’ stock surged 9.5% following a strong earnings report. The cable company beat second-quarter earnings expectations, leading to a surge in investor optimism and a significant rise in its stock price.
Walmart (NYSE: WMT)
Walmart’s stock saw a modest rise of 0.3% after Reuters reported that the retail giant is considering spending $200 million on self-driving forklifts. This move is part of broader efforts to automate more of its warehouse operations, reflecting the company’s ongoing commitment to innovation and efficiency.
The rebound in U.S. stock futures ahead of the key inflation data release is a positive sign for investors. The market’s response to individual company performances and broader economic indicators will continue to shape trading activities. Keep an eye on these movers as they navigate the day’s trading session.
FAQs:
Why did 3M Company’s stock rise?
3M Company’s stock rose because the company raised the lower end of its full-year adjusted profit forecast, driven by restructuring measures and increasing demand for electronics.
What contributed to the rise in Bristol-Myers Squibb’s stock?
Bristol-Myers Squibb’s stock rose due to better-than-expected second-quarter results, fueled by the success of new products and strong sales of its top-seller, Eliquis.
What news boosted Novo Nordisk’s stock?
Bristol-Myers Squibb’s stock rose due to better-than-expected second-quarter results, fueled by the success of new products and strong sales of its top-seller, Eliquis.
What is Walmart’s recent investment plan?
Walmart plans to potentially spend $200 million on self-driving forklifts as part of broader efforts to automate more of its warehouse operations.
This overview of the biggest premarket movers offers insight into the dynamic nature of stock trading and the factors influencing investor decisions. Stay tuned for further updates as the trading day progresses.
U.S. Regulator Finds Major Banks Lacking in Operational Risk Management
