Stocks making the biggest premarket moves: Boeing, Dell, Merck and more

Take a look at the businesses making major strides in premarket trading:

Boeing’s shares surged 4% following a successful agreement with its factory workers’ union, a move that could potentially avert an expensive strike.

MarineMax saw a surge in their shares by 6%, driven by Citi’s decision to upgrade their shares from neutral to buy. The firm sees potential in a low-rate environment with minimal downside risks.

Shares for both Palantir Technologies and Dell Technologies experienced a rally of 8% and 5% respectively, following their inclusion in the S&P 500 index announced on postmarket Friday. Palantir is set to take over American Airlines’ spot, while Dell will replace Etsy.

Merck, a leading name in the pharmaceutical world, saw a dip in its stocks by 2% after competitor Summit Therapeutics announced promising phase three trial results for their lung cancer drug, claiming the product offers a “clinically meaningful benefit” compared to Merck’s Keytruda. This news triggered a surge in Summit’s shares by more than 30%.

Arm Holdings’ chip stock rose nearly 3% thanks to a Financial Times report claiming Apple’s iPhone 16, due to be unveiled Monday, will feature Arm’s artificial intelligence chip technology.

United States Steel’s shares increased around 3% following JPMorgan’s decision to upgrade the industrial stock to overweight from neutral. Noting the recent pullback as a buying opportunity due to valuation support, the firm anticipates shares will drop further if the planned sale to Nippon Steel falls flat.

Finally, JetBlue Airways’ shares increased by 2% after Bank of America upgraded its stock rating from underperform to neutral, raising its price target based on favorable conditions like falling fuel costs. This rating change comes in the wake of JetBlue’s recent decision to raise its third-quarter revenue estimates.