Stock futures rose modestly Friday following the S&P 500's sharpest drop in five weeks after a report said President Joe Biden would propose raising taxes on wealthy investors.
Here are some of the top movers during premarket trading on Friday.
1. Snap SNAP | Up 5%
Snap reported revenue and user growth that beat expectations, prompting several analysts to lift their one-year price targets.
2. Mattel MAT | Up 7.3%
3. Skechers SKX | Up 10%
Skechers profit doubled due to higher demand for its shoes from overseas.
4. Intel INTC | Down 2.2%
Shares of Intel (INTC) - Get Report dropped early Friday after the semiconductor giant’s new chief executive, Pat Gelsinger, said a global chip-supply shortage could stretch two more years. The company posted weaker quarterly earnings.
5. American Express AXP | Down 3.3%
6. Honeywell HON | Down 1.2%
Shares of Honeywell (HON) - Get Report slipped in premarket trading even after the technology company posted stronger-than-expected first-quarter earnings. Honeywell's aerospace sales slumped 22% to $2.63 billion. Commercial-aircraft demand remains lower as travel restrictions linked to the coronavirus continue in place.