Bath & Body Works, Palantir and Merck rise premarket, Macy's falls

Investing.com -- US stock futures traded higher Monday, with sentiment boosted by Donald Trump’s nomination of Scott Bessent as Treasury Secretary.

Here are some of the biggest premarket US stock movers today: Macy’s (NYSE:M ) stock fell 4.4% after the retail giant announced a delay to its third-quarter release, citing an accounting issue. Also, sales in its preliminary results disappointed, as steep promotions failed to attract customers who have turned selective on purchases. Bath & Body Works (NYSE:BBWI ) stock soared over 10% after the personal care and home fragrance company raised its full-year guidance after reporting strong third-quarter results. Palantir (NYSE:PLTR ) stock rose 2.8% after Wedbush lifted its price target on the big data analytics firm, saying it is time for the broader software space “to get in on the AI Party.” Merck (NS:PROR ) stock rose 1.1% after the US drugmaker said its drug, Winrevair, helped significantly reduce the risk of death in patients with a rare condition which causes high blood pressure in the lungs. Peabody Energy (NYSE:BTU ) stock fell 7.2% after the coal mining company agreed to buy Anglo American’s remaining Australian steelmaking coal mines for up to $3.78 billion in cash. Snowflake (NYSE:SNOW ) stock rose 3.5% after Wedbush upgraded its rating on the cloud-based data storage company to ‘outperform’ from ‘neutral’, ceiling confidence in its potential growth, particularly in the realm of artificial intelligence. Procter & Gamble (NYSE:PG ) stock rose 0.5% after DA Davidson upgraded its stance on the consumer goods giant to ‘buy’ from ‘neutral’, citing positive sales from the important China market. Summit Materials (NYSE:SUM ) stock fell 2.4% after the cement company announced that building materials provider Quikrete will acquire it in a deal valued at $11.5 billion.

Source: Investing.com