Alphabet, Boeing, and Alibaba Drop in Premarket; Arcadium Lithium Skyrockets

US stock futures dipped slightly on Wednesday as investors remained cautious ahead of the anticipated release of the minutes from the latest Federal Reserve meeting.

Here are some of the notable premarket movers in US stocks today:

• Alphabet stock fell by 0.9% as the Department of Justice considers potential sanctions against Google, including the possibility of breaking up the company. This comes after a significant antitrust ruling determined that the tech giant had abused its dominant market position.

• Arcadium Lithium saw its stock surge by 30% following an announcement that mining giant Rio Tinto would acquire the US peer in an all-cash deal valued at $6.7 billion, which represents a 90% premium over Arcadium’s closing price on October 4.

• Alibaba stock declined by 3%, while PDD Holdings and JD shares fell by 3.6% and 4.2%, respectively. This drop occurred as US-listed shares of Chinese companies fell for a second consecutive day amid a lack of new stimulus measures.

• Boeing experienced a 1.3% drop in stock price after the aircraft manufacturer retracted its offer to the International Association of Machinists and Aerospace Workers and paused negotiations with the union following nearly a month of strikes.

• Hewlett Packard Enterprise saw a minor decrease of 0.2% after Deutsche Bank launched coverage of the company with a ‘hold’ rating, indicating that while there are several paths to potential growth, execution risks remain.

• Gitlab shares rose by 4.4% after Morgan Stanley commenced coverage of the software company with an ‘overweight’ rating, suggesting it could be the next big story in enterprise platforms.

• WW International recorded a significant 46% jump in stock value after the weight-loss company announced its long-awaited entry into the compounded GLP-1 market, aimed at stimulating growth.