Novo Nordisk, Merck and UPS fall premarket; Procter & Gamble rises

Investing.com -- U.S. stock futures edged higher Tuesday, with investors awaiting the release of more corporate earnings as well as key economic data as the Federal Reserve starts its latest meeting.

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

• Merck (NSE:PROR) stock fell 3.1% after the drugs giant announced job and cost cuts it said will save $3 billion a year as it posted lower second-quarter results due to continuing weak demand for its Gardasil vaccine in China.

• Procter & Gamble (NSE:PROC) (NYSE:PG) stock rose 0.7% despite the consumer goods giant stating that it expects to incur a tariff-fueled pretax rise in costs of around $1 billion in its current fiscal year, one day after it announced the departure of CEO Jon Moeller.

• Novo Nordisk (CSE:NOVOb) (NYSE:NVO) stock slumped over 14% after the maker of weight-loss drug Wegovy warned that full-year sales and operating profit would grow less than previously expected, marking its second forecast cut of 2025.

• PayPal (NASDAQ:PYPL) stock fell 3.7% after the payments company guided to a current-quarter profit that was roughly flat from a year earlier, even as it raised its full-year profit forecast.

• Baker Hughes (NASDAQ:BKR) stock fell 1.2% after the oil and gas equipment supplier said it would acquire Chart Industries (NYSE:GTLS) in a $13.6 billion all-cash deal, including debt.

• Royal Caribbean (NYSE:RCL) stock dropped 5.1% after the cruise operator’s second-quarter revenue came in slightly below expectations despite strong demand across its cruise portfolio.

• UPS (NYSE:UPS) stock fell 2.5% after the parcel delivery service reported a decline in second-quarter profit and revenue, as demand took a hit from the Trump administration’s volatile trade policies.

• JetBlue Airways (NASDAQ:JBLU) stock rose 2.8% and United Airlines (NASDAQ:UAL) gained 0.6% after the U.S. Department of Transportation has cleared the carriers’ planned Blue Sky partnership, allowing them to proceed with the implementation.

• UnitedHealth (NYSE:UNH) stock fell 3.6% after the health insurer reinstated the full-year profit forecast that it pulled over two months ago, but its guidance still fell short of analysts’ already-lowered expectations.

• Spotify (NYSE:SPOT) stock fell 6.7% after the streaming music giant guided for current-quarter earnings and revenue below analysts’ estimates, flagging the impact of negative currency effects and elevated payroll expenses.

• Whirlpool (NYSE:WHR) stock plunged 14% after the home appliance company reporting disappointing second-quarter results and slashed its 2025 full-year guidance.

• Nucor (NYSE:NUE) stock fell 5.5% after the steel producer’s earnings and revenue for the second quarter missed expectations, adding that it anticipates its third-quarter earnings to be “nominally lower” than this year’s second quarter.

• Cadence Design (NASDAQ:CDNS) stock soared 7.7% after the chip design software provider raised its annual sales and profit forecast.