Spirit Airlines, Rivian, Evgo Decline Pre-Market; Abercrombie & Fitch Gains

US stock futures traded mostly flat on Friday, as traders remained cautious ahead of the highly anticipated monthly jobs report that could influence expectations for future Federal Reserve interest rate cuts.

Here are some notable premarket US stock movements:

• Spirit Airlines (NYSE: SAVE) saw its stock plummet 37% after reports indicated that the airline’s efforts to restructure its debt and avoid bankruptcy have encountered difficulties, with negotiations with bondholders not yielding a resolution.

• Rivian (NASDAQ: RIVN) shares dropped 9.2% following the electric vehicle manufacturer’s announcement of a reduced full-year production forecast and fewer vehicle deliveries in the third quarter than anticipated, attributed to a parts shortage.

• Palantir (NYSE: PLTR) stock increased by 0.8% after it was reported that chairman Peter Thiel had finalized the sale of his shares as part of his latest trading strategy.

• Abercrombie & Fitch (NYSE: ANF) shares rose 2.8% after JPMorgan included the retailer on its Positive Catalyst Watch list, highlighting improved expectations for earnings and revenue growth.

• Chubb (NYSE: CB) experienced a 1% decline after Bank of America downgraded its rating on the insurer from "neutral" to "underperform."

• CVS Health (NYSE: CVS) saw a 1.8% increase after TD Cowen upgraded its rating on the pharmacy chain from "hold" to "buy," expressing increased confidence in CVS achieving double-digit earnings per share growth by 2025.

• Evgo (NASDAQ: EVGO) stock fell 3.6%, pulling back slightly after a massive 60% surge in the prior session when the company received a conditional loan guarantee of up to $1.05 billion for the expansion of public electric vehicle charging infrastructure nationwide.

• Archer-Daniels-Midland Company (NYSE: ADM) saw a 0.5% increase in its stock price after the grain merchant announced the temporary idling of its only soybean processing plant in Iowa during a record U.S. harvest.