US Stock Futures and Premarket Movers

US stock futures traded lower Monday, marking the start of a busy week with the new quarterly earnings season beginning.

Major Premarket US Stock Movers

• Pfizer (NYSE:PFE): Stock rose 3.4% after Bloomberg reported that activist investor Starboard Value has taken a $1 billion stake, aiming to spur a turnaround for the struggling company.
• Apple (NASDAQ:AAPL): Stock fell 1.4% after Jefferies analysts downgraded its rating to “hold” from “buy,” citing concerns about overestimated market expectations for the upcoming iPhone 16 and 17 models.
• Netflix (NASDAQ:NFLX): Stock fell 0.8% after Barclays downgraded it to “underweight” from “equal weight,” pointing out its premium valuation.
• Amazon (NASDAQ:AMZN): Stock fell 1.8% after Wells Fargo downgraded it to “equal weight” from “overweight,” noting multiple headwinds that may pause its positive earnings revision story.
• Hims Hers Health (NYSE:HIMS): Stock rose 5.4% as the telehealth group is set to join the S&P SmallCap 600, replacing Vector Group (NYSE:VGR).
• Arcadium Lithium (NYSE:ALTM): Stock soared 30% after Rio Tinto (NYSE:RIO) announced a non-binding approach to acquire the lithium producer.
• Mullen Automotive (NASDAQ:MULN): Stock dropped 4% following cost cuts, including a 20% reduction in headcount.
• DuPont (NYSE:DD): Stock fell 1.8% after Barclays downgraded it to “underweight” from “equal weight,” citing limited upside from its spin-off strategy.