US stock futures fell Monday as investors expressed concerns that a hot jobs report may lead to the Federal Reserve holding back on rate cuts this year. Macy’s, Abercrombie & Fitch, and Moderna were among the top movers in premarket trading.
Macy’s shares plummeted 3.4% after the retailer lowered its fourth-quarter net sales forecast, while Abercrombie & Fitch saw its stock fall 7.2% despite a lift in annual net sales growth target. Moderna’s shares dropped 16% following a $1 billion cut to its 2025 sales forecast.
On the other hand, Sage Therapeutics gained 36% after Biogen confirmed it has made a nonbinding proposal to acquire the company. Lululemon rose 3.9% as the sportswear maker raised its current-quarter targets, while Enfusion soared 12% after Clearwater Analytics agreed to buy it in a $1.5 billion deal.
The stock market also saw activity related to Johnson & Johnson’s acquisition of Intracellular and Apple’s lawsuit over app purchases. Meanwhile, investors may want to consider the performance of ProPicks, which has identified several stocks with impressive gains this year, including those with 150% or more surges in value.
Source: https://www.investing.com/news/stock-market-news/macys-abercrombie-and-moderna-fall-premarket-sage-soars-3809101