Morning Movers: Abbott and McCormick sink following fourth quarter results

Stock futures are higher as confidence returns to risk assets and markets rebound sharply from a bout of volatility earlier in the week that saw major indexes plunge as investors reacted to heightened trade-war fears tied to the threat of tariffs on European goods. The turnaround followed comments from President Donald Trump signaling a retreat from those tariff plans and outlining a framework agreement involving Greenland with NATO partners.

Gold and silver prices have pulled back from recent records as safe-haven demand eases on the reduced risk of a broader trade conflict, and oil prices stabilized amid calmer macro conditions.

In pre-market trading, S&P 500 futures rose 0.58%, Nasdaq futures rose 0.91% and Dow futures rose 0.40%.

Check out this morning’s top movers from around Wall Street, compiled by The Fly. 

HIGHER –

• Alibaba (BABA) up 4% after Bloomberg reported that the company is planning to restructure its AI chipmaking division T-Head ahead of a potential IPO
• GameStop (GME) up 3% after disclosing that chairman Ryan Cohen increased his stake in the company to 9.3%, which represents over 42.08M shares

UP AFTER EARNINGS –

• Interparfums (IPAR) up 4%
• Life Time Group (LTH) up 3%
• CACI (CACI) up 2%

DOWN AFTER EARNINGS –

• Abbott (ABT) down 7%
• McCormick (MKC) down 6%
• Mobileye (MBLY) down 6%
• GE Aerospace (GE) down 3%
• Huntington Bancshares (HBAN) down 3%
• Cadence Bank (CADE) down 3%
• Procter & Gamble (PG) down 1%
• Freeport-McMoRan (FCX) down 1%