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Spirit Airlines, Rivian, Evgo fall premarket; Abercrombie & Fitch rises

Published 2024/10/04, 13:30
© Reuters
ADM
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ANF
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CB
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CVS
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SAVEQ
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Investing.com -- US stock futures traded largely unchanged Friday, with traders wary ahead of the widely-watched monthly jobs report to set expectations for future Fed rate cuts.

Here are some of the biggest premarket US stock movers today

  • Spirit Airlines (NYSE:SAVE) stock slumped 37% after Bloomberg reported the carrier’s attempts to restructure its debt and avoid filing for bankruptcy have hit a snag after talks with bondholders failed to result in a deal.

  • Rivian (NASDAQ:RIVN) stock fell 9.2% after the EV manufacturer slashed its full-year production forecast and delivered fewer vehicles in the third quarter than expected, as the startup grappled with a parts shortage.

  • Palantir (NYSE:PLTR) stock rose 0.8% after Barron’s reported that chairman Peter Thiel had completed selling stock in his latest trading plan.

  • Abercrombie & Fitch (NYSE:ANF) stock rose 2.8% after JPMorgan added the clothes retailer to its Positive Catalyst Watch list, citing raised earnings and revenue growth expectations.

  • Chubb (NYSE:CB) stock fell 1% after Bank of America (NYSE:BAC) downgraded its stance on the insurer to “underperform” from “neutral”.

  • CVS Health (NYSE:CVS) stock rose 1.8% after TD Cowen upgraded its stance on the pharmacy chain to “buy” from “hold”, seeing greater confidence in CVS seeing double-digit EPS growth in 2025.

  • Evgo (NASDAQ:EVGO) stock fell 3.6%, retreating a touch after soaring 60% in the previous session after the company was offered a conditional loan guarantee of up to $1.05 billion to expand public electric vehicle-charging infrastructure across the country.

  • Archer-Daniels-Midland Company (NYSE:ADM) stock rose 0.5% after the grain merchant said it’s idling its only soybean processing plant in Iowa for weeks in the thick of a record U.S. harvest.

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