Delta, Apple, and Domino’s Pizza Decline Pre-Market; Tesla and GXO Logistics Gain

US stock futures dipped on Thursday as investors remained cautious ahead of the widely anticipated inflation data release.

Here are the notable premarket movers in US stocks today:

• Tesla: Shares rose 1.1% ahead of the Electric Vehicle manufacturer’s highly anticipated Robotaxi Day, an event that Wedbush analysts believe represents a significant growth opportunity related to autonomy, full self-driving, and AI advancements.

• Delta Air Lines: The stock fell 6.2% following the airline’s disappointing fourth-quarter guidance, which indicated that the upcoming U.S. presidential election could temporarily impact travel spending.

• Apple: Shares decreased by 0.5% after Jefferies reported weak demand for the iPhone 16, pointing to early data that suggests a double-digit decline in iPhone sales volume.

• Boeing: The stock rose 0.2%, recovering from a more than 3% drop the previous session. However, Wells Fargo anticipates an equity raise following stalled union negotiations.

• Domino’s Pizza: Shares fell 1.3% after the pizza chain reported a smaller-than-expected increase in third-quarter U.S. same-store sales, indicating that consumers are cutting back on dining out.

• GXO Logistics: The stock surged 8.1% after a report stated that the logistics services provider is considering a potential sale following interest from takeover bids.

• Medtronic: Shares increased by 1.1% after RBC Capital Markets raised its rating on the medical device company from ‘sector perform’ to ‘outperform,’ reflecting enhanced confidence in business fundamentals.

• Lululemon Athletica: The stock was down 0.2% after CFRA downgraded its recommendation from ‘strong buy’ to ‘hold,’ citing inventory challenges ahead of the holiday season.

• CVS Health: Shares rose 1.3% after Barclays upgraded the pharmacy chain from ‘equal weight’ to ‘overweight,’ anticipating a multi-year recovery in Medicare margins that could enhance value at its Aetna division.

• PayPal: The stock declined 1.6% after Bernstein downgraded the company from ‘outperform’ to ‘market perform,’ referencing the recent surge in its stock valuation.

• PepsiCo: Shares fell 0.5% following a downgrade from TD Cowen, which moved its rating from ‘buy’ to ‘hold,’ suggesting that aggressive pricing tactics may hurt the company’s near-term pricing power.