Investing.com -- US stock futures rose Tuesday, amid growing confidence that the Federal Reserve will end its latest policy-setting meeting with a hefty interest rate reduction.
Here are some of the biggest premarket US stock movers today
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Intel (NASDAQ:INTC) stock rose 6.7% after the US semiconductor group said that its contract manufacturing unit had signed a deal to make custom artificial intelligence chips for Amazon (NASDAQ:AMZN)'s cloud division.
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Microsoft (NASDAQ:MSFT) stock rose 1.6% after the software giant’s board approved a new share buyback program worth up to $60 billion and raised its dividend.
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ViaSat (NASDAQ:VSAT) stock fell 3.5% after JPMorgan (NYSE:JPM) downgraded its investment stance on the global communications company to "neutral" from "overweight", citing the threat of competition from Starlink.
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Walmart (NYSE:WMT) stock rose 0.3% after Morgan Stanley (NYSE:MS) noted that the retail giant’s membership soared to a record high in August, according to its survey, which aligns with management commentary that membership continues to grow "double digits."
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Virgin Galactic (NYSE:SPCE) stock fell 0.6% after Morgan Stanley cut its price target on the space travel company, noting that its commercial flights are on hold until around 2026.
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Applovin (NASDAQ:APP) stock rose 2.5% after UBS upgraded its stance on the mobile technology company to “buy” from “neutral”, citing improving visibility over medium-term revenue growth as well as a supportive valuation.
- Ferguson Enterprises (NYSE:FERG) stock fell 3.5% after the plumbing services provider pointed to “an ongoing challenging near term market environment” in its full-year results.