Macy's, Tesla and Workday rise premarket; Nvidia, AMD fall

Investing.com -- US stock futures traded marginally lower Monday, starting the week in a cautious manner ahead of the release of key inflation data.

Here are some of the biggest premarket US stock movers today: Macy’s (NYSE:M ) stock rose 3.4% following a report that activist investor Barington Capital is urging the retailer to create a real-estate unit and consider options for its Bloomingdale's and Bluemercury chains after building an undisclosed stake Tesla (NASDAQ:TSLA ) stock rose 2.3% after Deutsche Bank (ETR:DBKGn ) DBKGn highlighted the EV manufacturer as one of its top picks for 2025 in a note Monday, citing its leadership in autonomous driving technology and its ability to withstand industry headwinds. Nvidia (NASDAQ:NVDA ) stock fell 2% after China launched an investigation into the chipmaker over suspected violations of the country's anti-monopoly law, in a move that will likely be seen as a retaliatory move against Washington's recent chip curbs. Advanced Micro Devices (NASDAQ:AMD ) stock fell 1.5% after Bank of America downgraded its stance on the semiconductor to “neutral” from “buy”, citing downside risks to its 2025 outlook. Nokia (HE:NOKIA ) ADRs rose 3.6% after JPMorgan upgraded its stance on the telecommunications company to “overweight” from “neutral,” signaling increased optimism about the company’s future performance. Workday (NASDAQ:WDAY ) stock rose 8.9% and Apollo Global Management (NYSE:APO ) stock gained 5.8%, with both companies set to join the S&P 500 index later this month. Interpublic Group (NYSE:IPG ) stock advanced 15% after a report said marketing conglomerate Omnicom was in advanced talks to acquire the advertising company.

Source: Investing.com