Stock futures declined sharply Monday as investors weighed how higher inflation and rising COVID-19 cases might affect the global economic recovery.
Here are some of the top movers during premarket trading on Monday:
1. United Airlines | Down 5.4%
United Airlines (UAL) - Get United Airlines Holdings, Inc. Report and other air carriers, as well as cruise-line operators, were lower due to concern about the continued spread of the delta variant of COVID-19. The virus variant has been spreading rapidly in parts of Asia, including Japan where the Olympics will begin Friday, and in the U.S. Among the cruise lines, Carnival (CCL) - Get Carnival Corporation Report is off 5.5% and Norwegian (NCLH) - Get Norwegian Cruise Line Holdings Ltd. Report gave up 5.4%.
2. Five9 | Up 7.6%
Shares of Five9 (FIVN) - Get Five9 Inc. Report climbed after Zoom Video Communications (ZM) - Get Zoom Video Communications (ZM) Report agreed to buy the call center operator for just under $15 billion. The purchase expands Zoom's total addressable market, including individual and enterprise customers, by around $24 billion.
3. Virgin Galactic | Down 6.6%
Virgin Galactic (SPCE) - Get Virgin Galactic Report shares continued to fall a week after the aerospace company founded by the entrepreneur Richard Branson said in a filing that it may sell up to $500 million of stock. Branson recently completed a test flight into space and Amazon's (AMZN) - Get Amazon.com, Inc. Report Jeff Bezos is scheduled to take his first space flight on Tuesday.
4. SPX Flow | Up 29%
SPX Flow (FLOW) - Get SPX Flow, Inc. Report surged after Ingersoll Rand said it made an all-cash buyout bid that values the industrial components maker and distributor at roughly $3.59 billion. The bid was rejected. Ingersoll Rand has no plans to make a hostile offer for SPX Flow, and whether it will submit a new bid is unclear, Reuters reported.
5. Tesla | Down 2.5%
Tesla (TSLA) - Get Tesla Inc Report traded lower after the electric-car maker unveiled a subscription option for its full self-driving package. Tesla over the weekend unveiled a $199-a-month subscription plan for full self-driving, rather than a $10,000 up-front fee, which had been the only option to enable it. Some Tesla drivers may have to pay an extra $1,500 for a new chip to be installed to use the feature.