Meta, UPS, Hasbro and Align fall premarket; IBM, Ford rise

investing.com:

Investing.com — U.S. futures slipped lower Thursday, as investors digested earnings from some of the influential tech giants.

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

Meta Platforms (NASDAQ:META) stock fell 3.8% after the Facebook-parent exceeded third-quarter expectations, but the management said on the earnings call that brand advertising demand softened at the beginning of the fourth quarter.

IBM (NYSE:IBM) (IBM) stock rose 1.3% after the tech company beat expectations on profit for the third quarter and reaffirmed its outlook.

United Parcel (NYSE:UPS) Service (UPS) stock fell 3.4% after the delivery service cut its 2023 revenue forecast due to lower e-commerce delivery demand as it fights to win back customers lost during its difficult labor talks.

Ford (NYSE:F) stock rose 2.4% after the auto giant reached a tentative labor deal with the United Auto Workers union to end a strike.

Align (NASDAQ:ALGN) stock slumped 24% after the dental company lowered its full-year revenue forecast.

Hasbro (NASDAQ:HAS) stock fell 10% after the toymaker cut its annual revenue forecast for the second time, warning of choppy toy sales into the crucial holiday quarter.

Merck (MRK) stock rose 0.6% after the drugmaker reported higher-than-expected third-quarter sales and profit on surprisingly strong demand for its COVID-19 treatment, primarily in Japan.

Southwest Airlines (NYSE:LUV) stock fell 3% after the carrier reported a third-quarter profit that fell about 30% on soaring labor and fuel costs.

Northrop Grumman (NYSE:NOC) (NOC) stock rose 1% after the defense company raised its annual revenue target for the second time this year after reporting a jump in third-quarter revenue and profit helped by strong weapons