Boeing, Caterpillar, Canada Goose fall premarket; Tesla rises

Investing.com — US stock traded in a muted fashion Monday, with investors digesting more quarterly corporate earnings season and more cues from Federal Reserve officials over future monetary policy.

Here are some of the biggest premarket US stock movers today

• Boeing (NYSE:) stock fell 2.4%, with staff at the aerospace giant set to find out more details about its plan to slash around 17,000 positions, approximately 10% of its global headcount. It will also delay the first deliveries of its 777X plane by a year and book $5 billion in losses in the third quarter.

• Tesla (NASDAQ:) stock rose 1.2%. Bouncing after the sharp selloff last week as the EV manufacturer’s robotaxi event last week disappointed investors with its lack of details.

• B. Riley Financial (NASDAQ:) stock soared 18% after the Wall Street Journal reported the Investment bank has agreed to sell its appraisal and valuations unit, Great American, to asset-management firm Oaktree Capital for about $400 million.

• Applovin (NASDAQ:) stock fell 3.7% after Goldman Sachs downgraded its stance on the mobile technology company to ‘neutral’ from ‘buy’, citing a more balanced risk/reward basis after the stock’s 269% year-to-date gain.

• Caterpillar (NYSE:) stock fell 2.4% after Morgan Stanley downgraded the industrial heavyweight to ‘underweight’ from ‘equal-weight’, saying its shares could fall nearly 20%.

• Flutter Entertainment (NYSE:) stock rose 3.9% after Wells Fargo upgraded the gaming company to ‘overweight’ from ‘equal-weight’, saying investors should buy the dip of the FanDuel parent.

• Canada Goose (NYSE:) stock fell 4.1% after Wells Fargo downgraded its stance on the winter clothing manufacturer to ‘underweight’ from ‘equal-weight’, citing weakening brand recognition as well as China macro and margin headwinds.