Nike and FedEx fall premarket; Oracle and CoreWeave rise

Investing.com -- U.S. stock futures rose Friday, with sentiment boosted by cooling inflation, lifting the possibility of more Federal Reserve rate cuts this year.

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

• Nike (NYSE:NKE) stock dropped over 11% after the sports apparel giant reported shrinking quarterly margins and a decline in revenue in its Greater China market during the fiscal second quarter, its sixth straight quarterly sales decline in the country.

• FedEx (NYSE:FDX) stock fell 1.4% after Chief Financial Officer John Dietrich said earnings for the current quarter would be lower than the second-quarter results, due to MD-11 grounding, costs tied to next summer’s spin-off of its freight trucking business and other items. 

• Oracle (NYSE:ORCL) stock gained 4.4% after TikTok’s Chinese ​owner, ByteDance, signed binding agreements to hand control of the short video app’s U.S. operations to a group of investors, including the cloud computing giant.

• CoreWeave (NASDAQ:CRWV) stock rose 5.2% after the AI infrastructure company joined the Department of Energy’s Genesis Mission, an initiative connecting leading scientific institutions, supercomputing centers, and technology providers to accelerate scientific discovery and strengthen national security. 

• Coinbase Global (NASDAQ:COIN) stock gained 2.9% after the cryptoexchange launched a legal offensive against the states of Connecticut, Michigan, and Illinois to establish the CFTC as the sole regulator of prediction markets.

• WhiteFiber (NASDAQ:WYFI) stock gained 17% after the announcement of a 10-year co-location agreement between its subsidiary Enovum Data Centers and Nscale Global Holdings.

• Unitedhealth (NYSE:UNH) stock gained 0.2% after the health insurer said that audits by outside consulting firms of its health services and pharmacy benefit units would result in operational changes including more automation and increased standardization of internal processes.