Amazon, Warner Bros, and Dow rise premarket; Nio, Nike, HP fall

September 25, 2023 7:58 AM EDT -- U.S. futures edged lower Monday, with investors still reeling from last week’s hawkish Federal Reserve meeting, while a U.S. government shutdown draws nearer.

Here are some of the biggest premarket U.S. stock movers today:

  • Amazon (NASDAQ: AMZN) stock rose 0.5% after the tech giant announced plans to invest up to $4 billion in artificial intelligence group Anthropic, in an attempt to bolster its position in nascent AI technology.

  • Warner Bros Discovery (NASDAQ: WBD) stock rose 2.1%, Netflix (NASDAQ: NFLX) rose 0.8% and Walt Disney (NYSE: DIS) rose 0.3% as these entertainment giants benefited from the news that Hollywood's writers union reached a preliminary labor agreement with major studios on Sunday, likely ending strikes that have halted most film and television production.

  • Nio (NYSE: NIO) ADRs fell 6.8% after the Chinese EV manufacturer announced it was considering raising $3B from investors.

  • Nike (NYSE: NKE) stock fell 1.4% after Jefferies downgraded the sportswear giant to ‘hold’ from ‘buy’, citing increased risk due to ongoing pressure on the wholesale channel and macroeconomic challenges in China.

  • HP (NYSE: HPQ) stock fell 3.7% after Warren Buffett's Berkshire Hathaway (NYSE: BRKa) sold nearly 4.8 million shares of the PC-maker.

  • Dow (NYSE: DOW) stock rose 1.4% after JPMorgan upgraded its stance on the chemicals giant the company to ‘overweight’ from ‘neutral’, citing a robust balance sheet, a hefty dividend yield and ample upside.

  • Rocket Companies (NYSE: RKT) stock rose 3.1% after CFRA upgraded the mortgage loan provider to ‘hold’ from ‘sell’, saying its diversified businesses and available liquidity resources position it well.

  • AstraZeneca (NASDAQ: AZN) ADRs rose 1.7% after Jefferies upgraded the pharmaceutical company to ‘buy’ from ‘neutral’, noting last week’s positive results from its new lung cancer drug.

  • Harmony Biosciences (NASDAQ: HRMY) stock fell 3.1% after Goldman Sachs downgraded the biopharmaceutical company to ‘sell’ from ‘neutral’, seeing emerging risks to the durability of its revenue stream.

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