Tesla, UPS, Hasbro and Southwest rise premarket; Boeing and IBM fall

Investing.com -- US stock futures edged higher Thursday, following a day of declines on Wednesday that was marked by rising yields and falling megacap tech shares.

Here are some of the biggest premarket US stock movers today: Tesla (NASDAQ:TSLA ) stock rose 13% after the electric carmaking giant posted better-than-projected third-quarter profit and forecast a "slight" jump in deliveries this year. Boeing (NYSE:BA ) stock fell 3.7% after striking machinists rejected a revised contract offer, extending a crippling labor action that is placing heavy pressure on new CEO Kelly Ortberg's plans to overhaul the jet manufacturer's ailing finances. Southwest Airlines (NYSE:LUV ) stock rose 1.4% after Bloomberg reported that the carrier and Elliott Investment Management are closing in on a settlement that would avoid a proxy fight. The airline also reported a surprise third-quarter profit, benefiting from improved pricing and demand. United Parcel Service (NYSE:UPS ) stock rose 7.3% after the shipping company reported third-quarter earnings and revenue that exceeded expectations. Northrop Grumman (NYSE:NOC ) stock rose 1.1% after the defense company raised its 2024 profit forecast for the second time, amid increased global defense spending prompted by conflicts in the Middle East and the protracted Russia-Ukraine war. Hasbro (NASDAQ:HAS ) stock rose 3.3% after the toymaker posted a steeper-than-expected drop in sales as consumers tightened spending on toys, but the company's stringent cost controls boosted margins. IBM (NYSE:IBM ) stock fell 4.8% after the technology company reported reduced enterprise spending on non-GenAI projects pressured its consulting segment, clouding software unit strength. Keurig Dr Pepper (NASDAQ:KDP ) stock fell 1.2% after the soft drinks company announced plans to buy a 60% stake in energy-drink maker Ghost for $990 million, with an intent to purchase the rest in 2028. Harley-Davidson (NYSE:HOG ) stock fell 1.9% after the iconic motorcycle manufacturer trimmed its revenue forecast for the year as sticky inflation and high borrowing costs hurt demand in North America. KKR (NYSE:KKR ) stock rose 4.2% after the fund manager reported a hefty jump in adjusted net income for the third quarter, driven by record fee-related income, as well as earnings from its insurance business.

Source: Investing.com