US Stock Futures Update

US stock futures edged higher Wednesday, ahead of crucial economic data as the quarterly corporate earnings season continues.

Biggest Premarket US Stock Movers Today:

• Alphabet (NASDAQ:GOOGL) stock rose 6.5% following third-quarter results that exceeded estimates due to climbing advertising revenue, easing AI competition concerns.
• AMD (NASDAQ:AMD) stock slumped 8% after its fourth-quarter revenue outlook missed estimates, disappointing investors.
• Caterpillar (NYSE:CAT) stock fell 3.7% after third-quarter earnings and revenue fell short of analyst expectations.
• Biogen (NASDAQ:BIIB) stock rose 1.9% as the biotech firm raised its annual earnings guidance, reporting better-than-expected results for the third quarter.
• Kraft Heinz (NASDAQ:KHC) stock fell 2.5% after posting a steeper-than-expected decline in quarterly revenue due to weak demand for its brands.
• Humana (NYSE:HUM) stock rose 0.9% after beating third-quarter profit estimates, bolstered by its Medicare Advantage insurance business strength.
• Eli Lilly (NYSE:LLY) stock fell 6.8% after missing profit estimates for the third quarter, despite high demand for its weight-loss drug, affected by increased costs.
• Estee Lauder (NYSE:EL) stock fell 0.3% after naming Stephane de La Faverie as the new president and CEO, effective Jan. 1, 2025, ahead of earnings Thursday.
• GE HealthCare (NASDAQ:GEHC) stock fell 0.9% despite raising annual earnings guidance, as it reported mixed quarterly results.