Stock futures pointed higher Friday as Wall Street awaited a fresh measure of U.S. inflation and investors closed out what has been the worst month of the year for equities.
These stocks were poised to make moves Friday:
Nike
(ticker: NKE) stock surged 9.5% in premarket trading after the athletic apparel company reported fiscal first-quarter profit that beat analysts’ estimates.
Nike
said inventories fell 10% in the period. The company also reaffirmed its fiscal-year outlook and issued upbeat guidance for its second quarter. Shares of other athletic footwear and accessory companies rose.
Foot Locker
(FL) was up 3%,
Under Armour
(UAA) rose 2.4%, and
On Holding
(ONON) gained 3.9%.
Tesla
(TSLA) was rising 1.5% in premarket trading. The electric-vehicle maker was sued Thursday by the Equal Employment Opportunity Commission, which alleged
Tesla
subjected Black employees at its Fremont, Calif., plant, to racial harassment and a hostile work environment. Meanwhile, Tesla is expected to report third-quarter deliveries on Monday and analysts at Citi trimmed their Tesla quarterly sales estimate to 450,000 vehicles, down from a previous expectation of 468,500.
Ford
(F) rose 0.5%,
General Motors
(GM) was up 0.7%, and
Stellantis
(STLA) rose 0.5% as another strike deadline looms for the auto makers. The United Auto Workers said more workers would go on strike if enough progress wasn’t made in talks with the companies. UAW President Shawn Fain said he would provide a strike update at 10 a.m. Eastern on Friday.
Anheuser-Busch InBev
(BUD) gained 1.2% to €52.44 after BofA upgraded shares of the brewer to Buy from Neutral and raised the price target to €65 from €59. American depositary receipts of
AB InBev
(BUD) rose 3.8%.
Bumble
(BMBL) gained 4% in premarket trading after the dating app company was upgraded to Buy from Hold at Loop Capital.
Opendoor Technologies
(OPEN) rose 4.2% after the real-estate platform was initiated with a Neutral recommendation at
UBS.
Carnival
(CCL), the cruise operator, is scheduled to report fiscal third-quarter earnings on Friday. Shares rose 3.1% ahead of the report.
Nvidia
(NVDA) rose 1.2% in premarket trading to $435.97. Shares of the semiconductor maker, a leader in chips related to artificial intelligence, have had a tough September. They peaked on the last day of August at $493.55, up 238% from the start of the year. Since then, the stock has tumbled to as low as $410, before bouncing back to $430.89 as of Thursday’s close.
Synopsys
(SNPS) rose 1% after the provider of chip design software was initiated with a Buy at
HSBC.
Write to Joe Woelfel at [email protected]
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