Investing.com -- US stock futures slipped lower Monday, as investors digested a deluge of quarterly corporate earnings.
Here are some of the biggest premarket US stock movers today:
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United Parcel Service (NYSE:UPS) stock fell 2% after Barclays (LON:BARC) downgraded its investment stance on the delivery giant to “underweight" from "equal weight", citing increased competition from the likes of Amazon (NASDAQ:AMZN) and FedEx (NYSE:FDX), as well as pressure from lower-margin e-commerce growth.
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Kenvue (NYSE:KVUE) stock rose 5.7% after it was reported activist investor Starboard Value has taken a stake in the consumer products firm behind brands like Band-Aid and Listerine which was spun off from Johnson & Johnson (NYSE:JNJ) last year.
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Spirit Airlines (NYSE:SAVE) stock rose 36% after the carrier reached an agreement with the U.S. Bank National Association to extend a deadline by which it must extend or refinance its 2025 bonds to maintain its credit-card processing agreement with the bank.
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Boeing (NYSE:BA) stock rose 3.2% following reports that workers could vote on a new deal to end a costly five-week-long strike, while the WSJ reported that the company is exploring asset sales.
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Southwest Airlines (NYSE:LUV) stock fell 1.3% following a report that discussions have occurred that would give the Elliott Investment Management, an activist investor, a significant representation on the carrier’s board.
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Humana (NYSE:HUM) stock rose 4.4% after Bloomberg reported that health insurer Cigna (NYSE:CI), down 3.6%, has revived efforts to merge with its smaller rival after abandoning the pursuit late last year.
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Tesla (NASDAQ:TSLA) stock fell 1.1% ahead of Wednesday’s quarterly results when investors and analysts will get a chance to grill CEO Elon Musk on his robotaxi plans after its unveiling lacked key details.
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ServiceNow (NYSE:NOW) stock fell 2% after Morgan Stanley (NYSE:MS) downgraded the software company to “equal-weight” from “overweight”, citing the lack of meaningful valuation upside.
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Canada Goose (NYSE:GOOS) stock fell 4.1% after Goldman Sachs (NYSE:GS) downgraded the winter clothing retailer to “sell” from “neutral”, citing a less attractive risk/reward basis, driven by an increasingly competitive category backdrop, a slowing global luxury backdrop and a choppy China macro.