U.S. Stocks on the Move-Fortinet, Regeneron, Cigna
SPY•Market backdrop
July 30 (Reuters) - U.S. stock index futures steadied on Thursday after a sharp selloff driven by uncertainty around the Federal Reserve's policy outlook, while Microsoft's forecast-beating results soothed investor concerns about massive AI spending by companies.
Individual stock moves
- Microsoft Corp (MSFT): Jumps premarket as cloud surge, softer capex outlook fuel investor optimism.
- Starbucks Corp (SBUX): Rises after lifting annual forecasts again.
- Meta Platforms Inc (META): Tumbles premarket as AI spending takes a toll on free cash flow.
- Lam Research Corp (LRCX): Rises on upbeat Q1 revenue forecast.
- Carvana Co (CVNA): Slumps after core profit forecast disappoints.
- Fortinet Inc (FTNT): Jumps after lifting annual forecast.
- Qualcomm Inc (QCOM): Warns of faster Apple sales erosion, shares fall.
- Chipotle Mexican Grill Inc (CMG): Gains as sales forecast raise overshadows cyclosporiasis outbreak concerns.
- Teladoc Health Inc (TDOC): Sinks after Q2 revenue miss.
