Apple, Moderna, Southwest Airlines rise premarket; Tesla falls By Investing.com

Investing.com — U.S. stock slipped lower Monday, on rate-cut worries ahead of the release of key inflation data and the latest Federal Reserve meeting this week.

Here are some of the biggest premarket U.S. stock movers today:

• Apple (NASDAQ:) stock rose 0.4% ahead of the start of the tech giant’s annual developer conference, where it’s expected to showcase how it is integrating artificial intelligence across its software suite, including a revamped Siri voice assistant and a possible tie-up with ChatGPT owner OpenAI.

• Moderna (NASDAQ:) stock rose 1.5% after the biotech company said its combination vaccine, which targets both Covid-19 and the flu, was more effective than existing standalone shots in a late-stage trial.

• Tesla (NASDAQ:) stock fell 0.2% after Norway’s $1.7 trillion sovereign wealth fund said it will vote against ratifying CEO Elon Musk’s $56 billion pay package, which is up for a shareholder vote.

• GameStop (NYSE:) stock rose 7.7%, bouncing from Friday’s 40% drop in the wake of a big first-quarter sales miss, as the meme stock favorite’s volatile trading continued.

• Southwest Airlines (NYSE:) stock soared 9% after the Wall Street Journal reported that activist investor Elliott Investment Management has built a nearly $2 billion stake in the carrier and plans to push for changes.

• CrowdStrike (NASDAQ:), KKR (NYSE:) and GoDaddy (NYSE:) all rose strongly after S&P Dow Jones Indices said the companies would be included in the later this month, replacing Robert Half (NYSE:), Comerica (NYSE:) and Illumina (NASDAQ:).

• DraftKings (NASDAQ:) stock rose 2% after Morgan Stanley added the betting company to its Top Pick list, citing positive catalysts from capital return and reiterated guidance.

• Broadcom (NASDAQ:) stock rose 1.4% after Morgan Stanley resumed coverage of the semiconductor company at ‘overweight’, calling it one of the strongest AI plays.