Gap, Ross Stores, Texas Pacific rise premarket; Intuit and Reddit fall

Investing.com -- US stock futures traded in a muted fashion Friday, at the end of a generally positive week.

Here are some of the biggest premarket US stock movers today: Gap (NYSE:GAP ) stock rose 18% after the fashion retailer raised its annual sales forecast and said the holiday season was off to a "strong start". Intuit (NASDAQ:INTU ) stock fell 2.6% after the financial software company issued disappointing guidance for the second quarter and fiscal year. Ross Stores (NASDAQ:ROST ) stock rose 6.9% after the off-price retailer raised its annual profit forecast, as lower freight and supply-chain costs helped soften the impact of slowing sales. Texas Pacific (NYSE:TPL ) stock rose 5.1% with the energy company set to join the S&P 500 index next week, with current constituent Marathon Oil (NYSE:MRO ) being acquired by ConocoPhillips (NYSE:COP ). Palo Alto Networks (NASDAQ:PANW ) stock fell 0.7% after HSBC downgraded its stance on the cybersecurity company to ‘reduce’ from ‘hold’ amid valuation concerns. Reddit (NYSE:RDDT ) stock fell 7.2% after Bloomberg reported that a shareholder of the social media company is seeking to establish a credit facility using an equity stake in the company. MicroStrategy (NASDAQ:MSTR ) stock added 1.3% and Coinbase (NASDAQ:COIN ) gained 0.9%, with both companies supported by the rise in the cryptocurrencies, as bitcoin nears $100,000. Nvidia (NASDAQ:NVDA ) stock fell 0.6% after Phillip Securities downgraded its stance on the semiconductor manufacturer to ‘accumulate’ from ‘buy’, citing recent price action. Honeywell (NASDAQ:HON ) stock fell 0.2% after the conglomerate said it would sell its personal protective equipment business to Protective Industrial Products for about $1.33 billion in cash. Replimune (NASDAQ:REPL ) stock rose 15% after the biotechnology firm's announcement of significant regulatory progress for its lead cancer product.

Source: Investing.com