Investing.com -- U.S. stock futures rose Thursday after the Federal Reserve opened the door for a rate cut in September, while the quarterly earnings season continued.
Here are some of the biggest premarket U.S. stock movers today
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Meta Platforms (NASDAQ:META) stock rose 7.9% after the Facebook-parent reported stronger-than-expected second-quarter earnings and also presented a robust outlook.
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Arm Holdings (NASDAQ:ARM) stock fell 9.6% after the chip designer offered up a conservative revenue forecast, sparking worries that returns from a spending frenzy on AI computing would be relatively slow to materialize.
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Moderna (NASDAQ:MRNA) stock slumped 11% after the drugmaker cut its full-year revenue guidance, citing low EU sales and a competitive vaccine environment in the U.S..
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ConocoPhillips (NYSE:COP) stock rose 0.8% after the oil and gas producer posted a second-quarter profit that beat estimates, benefiting from higher output and oil prices.
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Ferrari (NYSE:RACE) stock rose 4.8% after the Italian luxury car manufacturer raised its forecasts for its full-year revenues core earnings, after it beat estimates in the second quarter.
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Labcorp (NYSE:LH) stock rose 3.8% after the lab operator beat expectations for second-quarter profit and revenue on strong demand for its diagnostic tests, and raised its sales growth forecast for the year.
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Spirit Airlines (NYSE:SAVE) stock fell 3.3% after the carrier forecast its current-quarter revenue below estimates, as excess capacity and intense competition on its routes hamper its pricing power.
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Biogen (NASDAQ:BIIB) stock rose 0.3% after the drugmaker lifted its full-year earnings forecast, as the launch of new treatments and its cost-cutting program are expected to make up for falling sales of its older multiple sclerosis medicines.
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Mobileye Global (NASDAQ:MBLY) stock fell 10% after the automotive tech company cut its annual revenue and profit forecasts, blaming volatile demand for its driver-assistance chips in China.