Workday, Ross Stores, CAVA Group rise premarket; Peloton, Uber fall By Investing.com

Investing.com — U.S. stock rose Friday, ending the week on a positive tone ahead of the eagerly-anticipated Jackson Hole symposium.

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

• Uber Technologies (NYSE:) stock fell 1.2% after the ride-hailing service announced a multiyear partnership with Cruise, a subsidiary of General Motors (NYSE:), allowing the latter’s self-driving vehicles to be launched on Uber’s ride-hailing platform.

• Ross Stores (NASDAQ:) stock rose 5.3% after the retailer raised its fiscal 2024 profit forecast and posted second-quarter results above expectations late Thursday, benefiting from demand for its discounted apparel and easing freight costs.

• Workday (NASDAQ:) stock jumped 12% after the human resource software provider beat market expectations for second-quarter revenue and announced a $1 billion stock buyback plan.

• CAVA Group (NYSE:) stock soared 8.3% after the fast-casual Mediterranean restaurant chain reported strong second-quarter earnings and revenue, while comparable sales growth and new unit performance also impressed.

• Nvidia (NASDAQ:) stock rose 1.2% after Evercore ISI analysts advised investors to buy ahead of the chipmaker’s earnings report for the July quarter, stressing that recent concerns over Blackwell delays are “overdone.”

• Halliburton (NYSE:) stock rose 0.6% despite the oilfield services firm saying that an unauthorized third party had gained access to some of its systems, and it had launched an internal investigation as well as taken certain systems offline to protect them.

• Peloton (NASDAQ:) stock fell 2% after JPMorgan downgraded its stance on the connected fitness company to ‘neutral’ from ‘overweight’, saying the current economic conditions will continue to impact consumer demand.

• Qualcomm (NASDAQ:) stock rose 1.2% after the U.S. chip giant agreed a deal with Sequans Communications to acquire the French semiconductor company’s 4G IoT technologies.