Activision Blizzard, Roku, Wayfair and Citi rise premarket; Ford falls
Investing.com -- U.S. futures edged higher Friday, ending a difficult week punctuated by a hawkish Federal Reserve meeting on a positive note.
Here are some of the biggest premarket U.S. stock movers today:
Activision Blizzard (NASDAQ: ATVI) stock rose 1.8% after the U.K. competition regulator indicated that Microsoft's (NASDAQ: MSFT) revised proposal to buy the games maker, including the divestment of cloud rights for existing games, including the popular “Call of Duty”, to Ubisoft (EPA:UBIP), could be approved.
Ford (NYSE: F) stock fell 0.2% after U.S. auto safety regulators said they are investigating about 240,000 of the auto giant’s 2018-2021 EcoSport vehicles after complaints alleging oil pump failure.
Citigroup (NYSE: C) stock rose 0.7% following a Reuters report, citing an internal memo, stating that the lender has warned U.K.-based employees of the likelihood of redundancies affecting hundreds of jobs in the country.
Alibaba (NYSE: BABA) ADRs rose 3.8% following a report the Chinese conglomerate's logistics arm Cainiao is planning to file for a Hong Kong IPO as soon as next week.
Roku (NASDAQ: ROKU) stock rose 1.4% after CFRA upgraded its stance on the video streaming company to ‘hold’ from ‘sell’, citing TV viewing shifts from linear networks to streaming.
Wayfair (NYSE: W) stock rose 2.7% after Bernstein upgraded the home goods retailer to ‘market perform’ from ‘underperform’, citing improving revenue growth and margin commentary.
Charter Communications (NASDAQ: CHTR) stock rose 1.8% after Wells Fargo upgraded the cable services provider to ‘overweight’ from ‘equal weight’, citing the possibility of increasinging stock repurchases.
Ralph Lauren (NYSE: RL) stock rose 0.8% after Raymond James initiated coverage of the clothing retailer with an ‘outperform’ rating, citing significant improvements in enhancing its brand, optimizing wholesale distribution, strengthening its direct-to-consumer business and boosting gross profit margins.