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Boeing, Paramount Global, Corning rise premarket; Exxon Mobil, Tesla fall

Published 07/08/2024, 08:03 AM
Updated 07/08/2024, 08:09 AM
© Reuters.

Investing.com -- U.S. stock futures traded in tight ranges Monday, with traders awaiting the release of key inflation data as well as testimony from Fed chief Jerome Powell to Congress this week.

Here are some of the biggest premarket U.S. stock movers today:

  • Boeing (NYSE:BA) stock rose 0.7% after the aircraft manufacturer agreed to plead guilty to a criminal fraud conspiracy charge to resolve a U.S. Justice Department investigation into two 737 MAX fatal crashes, paying a $243.6 million fine.

  • Paramount Global (NASDAQ:PARA) stock rose 3% after Skydance Media agreed to buy the entertainment giant, with the overall deal valued at over $8 billion.

  • Corning (NYSE:GLW) stock soared 7.1% after the specialty glass maker raised its second-quarter sales and profit guidance after a strong performance for its new optical connectivity products for Generative AI.

  • Tesla (NASDAQ:TSLA) stock fell 1% after jumping to the highest level this year on Friday, while the EV manufacturer’s shareholders will appear in court on Monday to argue that an unprecedented request for more than $7 billion in attorneys' fees to be paid by the company is "outlandish."

  • Morphic (NASDAQ:MORF) stock soared 75% after Eli Lilly (NYSE:LLY), up 0.3%, announced plans to acquire the biopharmaceutical company, which is developing oral integrin therapies for treatment of serious chronic diseases.

  • Exxon Mobil (NYSE:XOM) stock fell 1.2% as crude prices retreated Monday, overshadowing the oil major stating that changes in oil prices would increase the company's second-quarter upstream earnings by $300 million to $700 million compared with the first quarter.

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