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Premarket Movers Friday; Rivian Drops and FedEx Rises

Stock futures traded lower Friday as central banks made attempts to counter inflation.

Stock futures were falling Friday after as investors digested major policy decisions announced by central banks earlier in the week.

Here are some of the top movers ahead of Friday's session.

1. Rivian RIVN | Down 7.8%

Shares of Rivian  (RIVN) - Get Rivian Automotive, Inc. Class A Report fell after the electric-pickup-truck maker reported its first quarterly earnings as a public company and provided more clarity on future orders. The reports prompted investors to reassess the company’s lofty stock-price valuation.

2. FedEx FDX | Up 6%

Shares of FedEX  (FDX) - Get FedEx Corporation Report were higher after the package-delivery giant posted a 14% increase in fiscal-second-quarter revenue and reinstated its 2022 profit forecast. The group also authorized a $5 billion share-buyback plan.

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3. Cerner CERN | Up 16%

Shares of Cerner  (CERN) - Get Cerner Corporation Report surged after The Wall Street Journal reported that Oracle  (ORCL) - Get Oracle Corporation Report was preparing to buy the electronic-medical-records company in a deal valued at as much as $30 billion.

4. U.S. Steel X | Down 5%

Shares of U.S. Steel  (X) - Get United States Steel Corporation Report slumped after the steel producer issued fourth-quarter guidance that lagged Wall Street expectations.

5. Steelcase SCS | Down 4%

Shares of Steelcase  (SCS) - Get Steelcase Inc. Class A Report took a hit after the office-furniture maker warned that supply-chain disruptions and inflation pressures had hurt its growth in the fourth quarter.