Investing.com -- US stock futures traded lower Monday, at the start of a busy week that will see the beginning of the new quarterly earnings season.
Here are some of the biggest premarket US stock movers today
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Pfizer (NYSE:PFE) stock rose 3.4% after Bloomberg reported that activist investor Starboard Value has taken a stake of about $1 billion in the drugs giant, seeking to spur a turnaround of the struggling company.
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Apple (NASDAQ:AAPL) stock fell 1.4% after Jefferies analysts downgraded its investment stance on the iPhone maker to “hold” from “buy”, citing concerns about the overestimated market expectations for the upcoming iPhone 16 and 17 models.
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Netflix (NASDAQ:NFLX) stock fell 0.8% after Barclays downgraded the streaming giant to “underweight” from “equal weight”, citing its premium valuation.
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Amazon (NASDAQ:AMZN) stock fell 1.8% after Wells Fargo downgraded the online retail giant to “equal weight” from “overweight”, citing multiple headwinds that are likely to pause the company's positive earnings revision story.
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Hims Hers Health (NYSE:HIMS) stock rose 5.4% on the news that the telehealth group is indicated to join the S&P SmallCap 600, replacing fourth-largest American cigarette maker Vector Group (NYSE:VGR).
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Arcadium Lithium (NYSE:ALTM) stock soared 30% after mining giant Rio Tinto (NYSE:RIO) announced a “non-binding” approach to purchase the lithium producer.
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Mullen Automotive (NASDAQ:MULN) stock fell 4% after the maker of commercial electric vehicles announced cost cuts that include a 20% reduction in headcount.
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DuPont (NYSE:DD) stock fell 1.8% after Barclays downgraded its stance on the chemicals company to “underweight” from “equal weight”, citing limited upside from its spin-off strategy.