The US pre-market session is showing positive momentum across major indices following the latest US jobs report. Here’s a breakdown of the key movers and news impacting the market this morning:

• S&P 500 (ES): +0.9%
• Nasdaq (NQ): +1.3%
• Russell 2000 (RTY): +1.7%

Here are some of the individual stock movers making headlines before the market opens:

Biggest Movers to Watch

📉 Thermo Fisher Scientific (TMO): -0.5%

Thermo Fisher is under pressure this morning after its Greenville plant in North Carolina was found in breach of FDA regulations. Regulatory issues like these can impact operations and are often a red flag for investors, putting the stock under selling pressure.

📉 Spirit Airlines (SAVE): -35%

Spirit Airlines is exploring a potential Chapter 11 bankruptcy filing, causing its stock to plummet by 35% in pre-market trading. The budget airline has struggled with operational disruptions and rising costs, which are now pushing it toward bankruptcy considerations.

📉 Rivian (RIVN): -7%

Rivian is seeing a sharp decline after it cut its full-year production guidance due to a disruption caused by a shortage of critical components. This adds to the ongoing supply chain woes for the EV manufacturer, which has been trying to scale production to meet high demand.

📉 AbbVie (ABBV): -0.5%

AbbVie’s stock is down after the company cut its 2024 profit forecast, citing $82 million in additional R&D expenses related to collaborations and acquisitions. These increased costs have raised concerns about the company’s profitability moving forward.

📈 Company B: +10.5%

Company B surged after news broke that private equity firm Apollo is in advanced talks to acquire the company. The deal could potentially value B at over $45 per share, a significant premium over Thursday’s closing price of $40.06.

📈 Nvidia (NVDA): +1.5%

Nvidia is up 1.5% in pre-market trading as the company faces a class-action lawsuit supported by the DOJ and SEC. The lawsuit alleges Nvidia misrepresented sales tied to crypto miners. Despite the legal pressure, Nvidia’s stock continues to perform well amid strong demand for its AI and data center products.

📈 ExxonMobil (XOM): +0.5%

Exxon is trading slightly higher, even as the company estimates its Q3 earnings may take a hit of $0.6 to $1 billion due to changes in oil prices. Despite this, Exxon remains one of the key players benefiting from the recent rebound in energy prices.

📈 Summit Therapeutics (SMMT): +11.5%

Summit Therapeutics is up significantly after the FDA granted its cancer drug a fast-track designation. This fast-track status is a positive catalyst for the company, as it accelerates the review process, potentially bringing the treatment to market faster.

Market Overview

The broader market is reacting positively to the latest US jobs report, which seems to have calmed some of the concerns about the labor market. With key sectors such as healthcare, tech, and energy making headlines, it’s a dynamic day for pre-market trading. Keep an eye on these stocks as the market opens and investors digest these developments.