U.S. futures witnessed an increase on Friday as investors reflected on a week of crucial economic data and corporate earnings from major retailers. Here are notable premarket movers:
Gap (NYSE:GPS): The stock surged by 17% after the clothing retailer reported higher-than-expected third-quarter income, though it expressed caution about trading in the crucial holiday quarter.
Applied Materials (NASDAQ:AMAT): The stock declined by 7.3% after the semiconductor equipment maker surpassed expectations with its fiscal fourth-quarter results. However, it faced downward pressure due to news of a U.S. probe into potential violations of export restrictions to China.
ChargePoint (NYSE:CHPT): The stock slumped over 28% as the electric-vehicle charging network provider reduced estimates for its third-quarter revenue in preliminary results and announced a new CEO.
BJs Wholesale Club (NYSE:BJ): The stock fell by 6% after the membership-based warehouse retailer exceeded fiscal third-quarter earnings expectations but fell short on same-store sales and provided a pessimistic outlook.
Ross Stores (NASDAQ:ROST): The stock rose by 6.4% after the retailer increased its annual earnings forecast, having exceeded third-quarter sales and profit expectations. This was driven by strong demand at its discount outlets and easing freight costs.
Manchester United (NYSE:MANU): The stock increased by 7.7% following reports that the Glazer family, American owners of the English soccer club, are finalizing a deal with Jim Ratcliffe for the British billionaire to acquire a 25% stake.
Eli Lilly (NYSE:LLY): The stock rose by 0.6% as the drug maker extended the deadline for its tender offer for Point Biopharma shares to Dec. 1, from Nov. 16 previously, as part of an all-cash deal valued at $1.4 billion.
Fisker (NYSE:FSR): The stock rose by 1.8% after the electric vehicle manufacturer announced a new distribution strategy to enhance delivery speed and volume, addressing a bottleneck that had constrained production.