Biggest stock movers today: FUBO, EBS, and more

Stock futures edged lower Monday morning, despite a stellar previous week. Recent positive economic data has soothed inflation and recession worries, but investors remain cautious. All eyes are now on the Federal Reserve meeting minutes and the Jackson Hole symposium for clues on the central bank’s interest rate path.

Here are some of Monday’s biggest stock movers:

Biggest stock gainers

• FuboTV (NYSE:FUBO) shares surged as much as 13% in premarket trading on Monday, building on Friday’s 17% gain, after a federal judge temporarily blocked the launch of a competing sports streaming service. The $42.99-a-month venture, backed by Fox, Warner Bros. Discovery, and Walt Disney, was set to debut next week but was halted due to a lawsuit filed by FuboTV alleging anti-competitive practices. The company argues that the new service would have stifled competition and harmed consumers.
• Emergent BioSolutions (NYSE:EBS) shares continued their upward trajectory, rising 6% Monday, after a 24% surge the previous session. The company, which produces the smallpox vaccine ACAM2000, is benefiting from growing concerns over mpox. The WHO’s recent declaration of a global health emergency for the virus has fueled investor optimism as Emergent seeks FDA approval to expand its vaccine’s use to include mpox protection.

Biggest stock losers

• Shake Shack (NYSE:SHAK) shares fell by approximately 3%, while Dutch Bros (NYSE:BROS) dropped around 4% in premarket trading after Piper Sandler downgraded both fast-casual restaurant chains from Overweight to Neutral. The broker cited a more balanced risk-reward profile for both companies given current market conditions, though it maintained a generally positive outlook.