Biggest stock movers today: Digital World Acquisition, Sirius XM, Interpublic Group and more
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U.S. stock futures inched higher during Friday's early hours of trade after the Dow celebrated its longest rise since 2017, with a ninth day of gains. Nasdaq futures are also recovering after their worst session since early March.
Here are some of Friday's biggest stock gainers and losers in premarket trading:
Biggest stock gainers

Scholastic (NASDAQ:SCHL) shares rose 9% after the company announced mixed Q4 results. Additionally, the board approved a $100 million increase in the share buyback program.
The stock of Digital World Acquisition (NASDAQ:DWAC) increased by over 23% following a settlement with the Securities and Exchange Commission's Enforcement Division in connection with the SEC's investigation into the SPAC's proposal to take Donald Trump's social media company public. If the merger transaction is completed, the company will be fined $18 million.
Due to its plans for the expansion of its secondary battery material business, POSCO Holdings (NYSE:PKX) saw a more than 12% increase in share price after surpassing Hyundai Motor's market value of 42.3 trillion won ($32.85 billion). This week, the company also reported that higher product pricing and normalised sales caused its Q2 operating profit to only barely beat forecasts.
Evelo Biosciences' (EVLO) stock jumped more than 10% after the company announced a sublease termination and surrender agreement with Bio-Rad Laboratories (BIO) that would take effect on September 15, 2023. In consideration for the early termination, the firm agreed to provide a one-time termination payment of $523.6K to Bio-Rad and granted Bio-Rad the right to draw on an $850K letter of credit and retain the proceeds.
The stock price of Emergent BioSolutions (NYSE:EBS) surged around 16% after the U.S. FDA approved their anthrax post-exposure prophylaxis vaccine Cyfendus. The vaccine's efficacy was determined solely through animal research.

Biggest stock losers

After Interpublic Group of Companies' (NYSE:IPG) Q2 sales fell short of analyst expectations, the company's shares fell by around 8%. The firm has reduced its forecast for organic growth for the entire year to between 1% and 2%, but it is still completely dedicated to meeting its current margin target for the year of 16.7%, which represents margin gain compared to 2022.
Sirius XM (NASDAQ:SIRI) shares are down 9% in Friday's premarket session after rising 42% on unusually heavy activity on Thursday. The stock triggered multiple volatility halts.

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