Meta, UPS, Hasbro and Align fall premarket; IBM, Ford rise
Investing.com -- U.S. futures slipped lower Thursday, as investors digested earnings from some of the influential tech giants.
Here are some of the biggest premarket U.S. stock movers today:
Meta Platforms (NASDAQ: META) stock fell 3.8% after the Facebook-parent exceeded third-quarter expectations, but the management said on the earnings call that brand advertising demand softened at the beginning of the fourth quarter.
IBM (NYSE: IBM) stock rose 1.3% after the tech company beat expectations on profit for the third quarter and reaffirmed its outlook.
United Parcel Service (NYSE: UPS) stock fell 3.4% after the delivery service cut its 2023 revenue forecast due to lower e-commerce delivery demand as it fights to win back customers lost during its difficult labor talks.
Ford (NYSE: F) stock rose 2.4% after the auto giant reached a tentative labor deal with the United Auto Workers union to end a strike.
Align (NASDAQ: ALGN) stock slumped 24% after the dental company lowered its full-year revenue forecast.
Hasbro (NASDAQ: HAS) stock fell 10% after the toymaker cut its annual revenue forecast for the second time, warning of choppy toy sales into the crucial holiday quarter.
Merck (NYSE: MRK) stock rose 0.6% after the drugmaker reported higher-than-expected third-quarter sales and profit on surprisingly strong demand for its COVID-19 treatment, primarily in Japan.
Southwest Airlines (NYSE: LUV) stock fell 3% after the carrier reported a third-quarter profit that fell about 30% on soaring labor and fuel costs.
Northrop Grumman (NYSE: NOC) stock rose 1% after the defense company raised its annual revenue target for the second time this year after reporting a jump in third-quarter revenue and profit helped by strong weapons demand.
Kenvue (NYSE: KVUE) stock fell 1.2% after the Johnson & Johnson (NYSE: JNJ) spinoff cut its annual profit forecast, as it expects lower demand for its cough, cold and flu medicines.