Pfizer and Arcadium Lithium rise premarket; Apple, Amazon and Netflix fall

Investing.com -- US stock futures traded lower Monday, at the start of a busy week that will see the beginning of the new quarterly earnings season.

Here are some of the biggest premarket US stock movers today Pfizer (NYSE:PFE ) stock rose 3.4% after Bloomberg reported that activist investor Starboard Value has taken a stake of about $1 billion in the drugs giant, seeking to spur a turnaround of the struggling company. Apple (NASDAQ:AAPL ) stock fell 1.4% after Jefferies analysts downgraded its investment stance on the iPhone maker to “hold” from “buy”, citing concerns about the overestimated market expectations for the upcoming iPhone 16 and 17 models. Netflix (NASDAQ:NFLX ) stock fell 0.8% after Barclays downgraded the streaming giant to “underweight” from “equal weight”, citing its premium valuation. Amazon (NASDAQ:AMZN ) stock fell 1.8% after Wells Fargo downgraded the online retail giant to “equal weight” from “overweight”, citing multiple headwinds that are likely to pause the company's positive earnings revision story. Hims Hers Health (NYSE:HIMS ) stock rose 5.4% on the news that the telehealth group is indicated to join the S&P SmallCap 600 , replacing fourth-largest American cigarette maker Vector Group (NYSE:VGR ). Arcadium Lithium (NYSE:ALTM ) stock soared 30% after mining giant Rio Tinto (NYSE:RIO ) announced a “non-binding” approach to purchase the lithium producer. Mullen Automotive (NASDAQ:MULN ) stock fell 4% after the maker of commercial electric vehicles announced cost cuts that include a 20% reduction in headcount. DuPont (NYSE:DD ) stock fell 1.8% after Barclays downgraded its stance on the chemicals company to “underweight” from “equal weight”, citing limited upside from its spin-off strategy.

Source: Investing.com