Stellantis, Ford, and Boeing Decline in Premarket; AT&T and Nio Experience Gains

US stock futures traded slightly lower on Monday, beginning the final session of the quarter on a negative note as investors await a key speech from Federal Reserve Chair Jerome Powell.

Here are some of the notable premarket stock movements today:

• Stellantis shares plummeted 13% after the automotive company lowered its annual forecasts and projected higher cash burn than previously expected, citing declining trends in the industry, increased costs associated with restructuring its U.S. operations, and competitive pressures from Chinese electric vehicle manufacturers.

• Ford stock declined by 3.3%, while General Motors shares fell 3.7% in response to Stellantis’ statement regarding intensified competition from China.

• Boeing saw its stock fall 0.7% after the International Association of Machinists and Aerospace Workers announced that discussions over a pay deal with the company had ceased and no further negotiation dates were set.

• Nio shares surged 12% after the Chinese electric vehicle manufacturer announced a new funding round worth nearly $2 billion from existing shareholders.

• CVS Health stock increased by 2.5% following reports that Glenview Capital, a significant investor in the pharmacy chain, is set to meet with the company’s leadership to propose strategies to improve its struggling business.

• AT&T shares rose 0.9% after the telecommunications giant revealed it would divest its 70% stake in satellite TV service DirecTV to private equity firm TPG for $7.6 billion.

• Autodesk stock climbed 0.5% after Morgan Stanley upgraded its rating on the software company to "top pick," highlighting expectations of accelerated earnings per share and revenue growth alongside a favorable valuation.

• Procter & Gamble shares dipped 1% following a downgrade from Barclays, which changed its rating on the consumer goods giant from "overweight" to "equal weight," pointing to the company’s significant exposure to sluggish growth or declining markets, notably in China.