Premarket movers: Micron; Boeing rises, Moderna slides

Investing.com - U.S. stock index futures hovered around the flatline on Wednesday, as investors turned their focus to key inflation data closely watched by the Federal Reserve and upcoming earnings from semiconductor group Micron.

By 06:09 ET (10:09 GMT), Dow futures had risen 50 points, or 0.1%, S&P 500 futures had gained 5 points, or 0.1%, while Nasdaq 100 futures were mostly unchanged.

Investors are awaiting a host of economic data this week for fresh clues on the Federal Reserve’s interest-rate path. The personal consumption expenditures price index for August, the Fed’s preferred inflation gauge, is due Wednesday and is expected to show inflation remaining above the central bank’s 2% annual target.

The focus will then turn to the U.S. employment report for September on Friday, which will provide another reading on the health of the labor market and could influence expectations for the Fed’s next policy moves.

Here are some of the biggest premarket U.S. stock movers today:

Boeing surged 3% in premarket trading to $193.41, extending an after-hours rally after the Pentagon announced that the aerospace giant had been selected to develop the U.S. Navy’s next-generation carrier-based strike fighter, the F/A-XX, under a contract valued at more than $20 billion.

The award, which beat out rival Northrop Grumman, marks Boeing’s second consecutive sixth-generation fighter program win and places the company at the center of the Navy’s Next Generation Air Dominance initiative. The program is expected to expand significantly over its full lifecycle.

Concentrix plunged 11.1% in premarket trading to $22.11 after the customer experience and technology services company reported fiscal third-quarter results that disappointed on revenue and guidance, despite beating expectations on profitability.

Revenue fell 1.2% year over year to $2.45 billion, missing Wall Street expectations by about $30 million, while non-GAAP EPS of $2.92 topped estimates by 21 cents.

The bigger concern was the outlook. Concentrix forecast fourth-quarter revenue to decline 3% to 5% on a constant-currency basis, citing faster-than-expected AI automation among clients and a shift in hyperscaler spending priorities. The company also cut its full-year 2026 revenue outlook to $9.827 billion-$9.877 billion, below the roughly $9.97 billion consensus. The quarter also included a $1.05 billion non-cash goodwill impairment charge.

Moderna fell 6.3% in premarket trading after Citi downgraded the biotechnology company to Sell from its previous rating and raised its price target to $80 from $60.

Citi said Moderna’s valuation had become stretched following a strong run that took the stock to a new 52-week high of $208.90. The downgrade stands out against the broader analyst view, with the company previously carrying only two sell ratings among roughly two dozen analysts covering the stock.

Trulieve Cannabis fell 6.5% in premarket trading after the company announced an exclusive master licensing agreement with Connected Cannabis covering the premium Alien Labs and Connected brands in Florida and Texas.

The perpetual, royalty-free license expands Trulieve’s product portfolio, but investors appeared more focused on the potential near-term costs and execution risks associated with integration, marketing and expanding the brands across the two markets.

Yiren Digital rose 6.1% in premarket trading after the Beijing-based fintech company released unaudited second-quarter 2026 results.

The company reported a GAAP loss of 75 cents per share and revenue of about $131.2 million, down roughly 43% year over year, while non-GAAP adjusted EBITDA showed a loss of about $50.2 million.

Despite the weak headline figures, investors appeared encouraged by a sequential narrowing in the net loss from the first quarter and improving credit metrics, with the stock having recently traded near its 52-week low of $0.82.

GameStop rose 1.6% after CEO Ryan Cohen disclosed a fresh open-market purchase of 450,000 Class A shares on Sept. 29 for about $10.6 million.

The purchase lifted Cohen’s direct holdings to nearly 41 million shares. An amended Schedule 13D filing showed his total beneficial ownership had risen to 44.68 million shares, representing about 8.8% of GameStop’s outstanding stock.

Richardson Electronics slipped 1.2% in premarket trading after the company wrapped up its appearance at the virtual Lytham Partners Fall 2026 Investor Conference.

Management highlighted an improved business, with fiscal 2026 sales rising 9.4% to $228.6 million and the company returning to profitability with $6.4 million in net income. However, the stock remained under pressure as investors weighed its valuation against fair-value estimates.

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