Gap, Ross Stores, Texas Pacific rise premarket;Intuit and Reddit fall

Investing.com — US stock futures traded in a muted fashion Friday, at the end of a generally positive week.

Here are some of the biggest premarket US stock movers today:

Gap (NYSE:GAP) stock rose 18% after the fashion retailer raised its annual sales forecast and said the holiday season was off to a “strong start”.

Intuit (NASDAQ:INTU) stock fell 2.6% after the financial software company issued disappointing guidance for the second quarter and fiscal year.

Ross Stores (NASDAQ:ROST) stock rose 6.9% after the off-price retailer raised its annual profit forecast, as lower freight and supply-chain costs helped soften the impact of slowing sales.

Texas Pacific (NYSE:TPL) stock rose 5.1% with the energy company set to join the S&P 500 index next week, with current constituent Marathon Oil (NYSE:MRO) being acquired by ConocoPhillips (NYSE:COP).

Palo Alto Networks (NASDAQ:PANW) stock fell 0.7% after HSBC downgraded its stance on the cybersecurity company to ‘reduce’ from ‘hold’ amid valuation concerns.

Reddit (NYSE:RDDT) stock fell 7.2% after Bloomberg reported that a shareholder of the social media company is seeking to establish a credit facility using an equity stake in the company.

MicroStrategy (NASDAQ:MSTR) stock added 1.3% and Coinbase (NASDAQ:COIN) gained 0.9%, with both companies supported by the rise in the cryptocurrencies, as bitcoin nears $100,000.

Nvidia (NASDAQ:NVDA) stock fell 0.6% after Phillip Securities downgraded its stance on the semiconductor manufacturer to ‘accumulate’ from ‘buy’, citing recent price action.

Honeywell (NASDAQ:HON) stock fell 0.2% after the conglomerate said it would sell its personal protective equipment business to Protective Industrial Products for about $1.33 billion in cash.

Replimune (NASDAQ:REPL) stock rose 15% after the biotechnology firm’s announcement of significant regulatory progress for its lead cancer product.