Morning Movers: Managed care group slide after CMS notice

S&P futures have risen with gains driven in large part by optimism around corporate profits and resilient economic data. Markets are trading with a cautiously positive tone early in the week, supported by strong performance in big technology stocks and positioning ahead of this week’s Federal Reserve meeting.

The broader global backdrop is also helping sentiment. European markets are slightly higher after news of a free trade agreement between the European Union and India, and Asian shares have lifted on strength in technology and financial sectors. Safe-haven demand that had previously driven precious metals to record levels has eased somewhat, with gold and silver prices pulling back a bit even as they remain historically elevated, reflecting a slight reduction in risk aversion.

In pre-market trading, S&P 500 futures rose 0.23%, Nasdaq futures rose 0.59% and Dow futures fell 0.63%.

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

HIGHER –

• Corning (GLW) up 7% after the company and Meta Platforms (META) announced a multiyear, up to $6B agreement for fiber-optic cable in its AI data centers
• Salesforce (CRM) up 3% after being awarded a $5.64B Army contract

UP AFTER EARNINGS –

• HCA Healthcare (HCA) up 6%
• General Motors (GM) up 4%
• RTX (RTX) up 3%
• American Airlines (AAL) up 3%
• UPS (UPS) up 1%
• Kimberly-Clark (KMB) up 1%

DOWN AFTER EARNINGS –

• Roper Technologies (ROP) down 6%
• JetBlue (JBLU) down 5%
• Northrop Grumman (NOC) down 3%
• Boeing (BA) down 2%
• Synchrony (SYF) down 2%

LOWER –

• Pinterest (PINS) down 3% after disclosing the board-approved global restructuring plan that includes a reduction in force that is expected to affect less than 15% of the company’s workforce as well as office space reductions

DOWN AFTER 2027 MEDICARE ADVANTAGE ADVANCE NOTICE RATE –

• Humana (HUM) down 16%
• UnitedHealth (UNH) down 15%
• CVS Health (CVS) down 10%