FedEx, Eli Lilly, Occidental rise premarket; Nike, Novo Nordisk fall

Investing.com — US stock fell Friday as the threat of a US government shutdown increased, and as investors awaited the release of key inflation data.

Here are some of the biggest premarket US stock movers today:

• FedEx (NYSE:) stock soared 6.7% after the delivery giant reported better-than-expected earnings in the fiscal second quarter, while also announcing that it’s planning on spinning off its freight business.

• Nike (NYSE:) stock slumped 7.4% after the sportswear retailer flagged “severe issues” in its guidance, despite second-quarter results topping expectations.

• Novo Nordisk (NYSE:) stock plunged 18% after the drugmaker said its experimental next-generation obesity drug CagriSema helped patients cut their weight by 22.7% in a late-stage trial, below the 25% it had expected.

• Eli Lilly (NYSE:) stock rose 5.5%, with the drugmaker’s gains reflecting growing confidence in its competing obesity treatments.

• Tesla (NASDAQ:) stock fell 5% with the EV manufacturer having a tough time in Europe, registering a 40.9% decrease in registrations in the European Union in November compared to the same month last year.

• Trump Media & Technology (NASDAQ:) stock fell 5.5% after an SEC filing showed that President-elect Donald Trump this week transferred his entire stake in the social media company into a revocable trust of which he is the sole beneficiary.

• MicroStrategy (NASDAQ:) stock fell 7.6% and Coinbase Global (NASDAQ:) dropped 6.6% as these cryptocurrency-linked stocks were impacted by the sharp selloff in bitcoin, the world’s most popular digital currency.

• United States Steel Corporation (NYSE:) stock fell 6.2% after the steel giant forecast a surprise loss for the fourth quarter, with steel prices remaining depressed and costs related to the ramp up of its Big River 2 facility hurting.

• Occidental Petroleum (NYSE:) stock rose 2% after Berkshire Hathaway (NYSE:), led by renowned investor Warren Buffett, significantly increased its stake in the energy company, acquiring a substantial number of shares, totaling $409 million.