Investing.com -- US stock futures surged Thursday, the day after the Federal Reserve started its latest rate-cutting cycle with an outsized half percentage point reduction.
Here are some of the biggest premarket US stock movers today
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Target (NYSE:TGT) stock rose 1.3% after the retailer named Jim Lee as its chief financial officer effective Sept. 22. Lee comes with more than 25 years of financial, strategy and business experience at PepsiCo (NASDAQ:PEP).
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Amazon (NASDAQ:AMZN) stock rose 1.9% after the online retail giant detailed plans to raise pay for fulfillment and transportation workers by $1.50 an hour, while adding Prime membership to its benefits package.
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Dell Technologies (NYSE:DELL) stock added 3% after the PC-maker declared a quarterly cash dividend.
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Five Below (NASDAQ:FIVE) stock fell 1.5% after JPMorgan downgraded its investment stance on the discount retailer to “underweight” from “neutral”, citing declining consumer spending.
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Charter Communications (NASDAQ:CHTR) stock rose 2% after RBC initiated coverage of the telecommunications company with a “sector perform” rating, citing a solid execution but structural challenges.
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DoorDash (NASDAQ:DASH) stock rose 3.8% after BTIG upgraded the online food delivery company to “buy” from “neutral”, citing under-appreciated longer-term drivers.
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Steelcase (NYSE:SCS) stock fell 7.8% after the office-furniture company reported disappointing second-quarter revenue as well as forecasting third-quarter revenue below expectations.
- Progyny (NASDAQ:PGNY) stock slumped 24% after the health-care company said that a significant client had exercised its option to terminate their services agreement.