McDonald's, Ford, Southwest Airlines rise premarket; Cisco fell
Investing.com -- U.S. futures rose Monday, starting a busy week full of earnings reports and an interest rate decision from the Federal Reserve on a positive note.
Here are some of the biggest premarket U.S. stock movers today:
McDonald's (NYSE: MCD) stock rose 2.6% after the burger giant beat estimates for third-quarter profit and sales on Monday, and also raised its quarterly cash dividend by 10%, powered by new launches as well as steady demand for its cheaper burgers and fries from diners struggling with still-high food prices.
Loews (NYSE: L) stock rose 0.3% after the corporation reported a profit in the third quarter compared to a loss a year earlier, boosted by higher investments and insurance unit CNA Financial's strong performance.
Southwest Airlines (NYSE: LUV) stock rose 0.8%, rebounding from Friday’s sharp losses, despite the carrier stating that the U.S. transportation regulator may impose a fine related to the wide-scale operational disruptions the carrier faced in December last year.
Ford (NYSE: F) stock rose 0.7% after the carmaking giant reached a tentative labor deal with the United Auto Workers union that would end long-standing strikes at some of the company's plants.
HSBC (NYSE: HSBC) ADRs stock rose 0.2% after the banking giant unveiled an extra $3 billion in share buybacks, bringing its total returns to shareholders this year to $7B, after reporting pretax profit in the third quarter of $7.7B, jumping from $4.5B in the corresponding period last year.
Cisco (NASDAQ: CSCO) stock fell 0.4% after Raymond James downgraded the tech company to ‘market perform’ from ‘outperform’, expecting the company to experience a decline in campus sales, which are likely responsible for approximately one-third of the sales decline expected in 2024.
Coherus Biosciences (NASDAQ: CHRS) stock jumped over 20% after the U.S. health regulator approved the biotech's treatment for nasopharyngeal cancer.