Autodesk, GameStop and Best Buy rise premarket; AMC Networks falls By Investing.com

Investing.com — U.S. stock traded in a muted fashion Monday, as investors await more crucial economic data as well as speeches from a number of Federal Reserve officials.

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

• Autodesk (NASDAQ:) stock rose 4.1% after the Wall Street Journal reported that activist investor Starboard Value has acquired a stake worth approximately $500 million in the design-software manufacturer, and is now advocating for changes within the company.

• GameStop (NYSE:) rose 0.9% ahead of the video game retailer’s annual meeting later in the session, after it was postponed last week due to a technical glitch resulting from high demand from shareholders.

• UBS (NYSE:) stock rose 0.7% after the Swiss banking giant said it will set aside around $900 million to repay investors in Credit Suisse funds that were linked to collapsed supply chain financing firm Greensill Capital, accounting for 90% of what they are owed.

• Best Buy (NYSE:) stock rose 3.1% after UBS upgraded its investment stance on the electronics retailer to ‘buy’ from ‘neutral’, citing a positive outlook, supported by the company’s ongoing restructuring efforts.

• Primo Water (NYSE:) stock fell 1.9% after the packaged water company said it would merge with BlueTriton Brands in an all-stock deal.

• Coinbase (NASDAQ:) stock fell 1.2%, with the cryptocurrency exchange weighed by more losses in bitcoin, the world’s most popular digital currency.

• AMC Networks (NASDAQ:) stock slumped 9.4% after the entertainment company announced a $125 million convertible offering.