Stocks making the biggest moves premarket: FedEx, International Paper, Uber and more

Check retired the companies making headlines earlier the bell:

FedEx (FDX) – FedEx tumbled 20.3% successful premarket trading aft issuing a nett informing owed to declining bundle transportation volumes astir the world. The quality has exacerbated fears of a slowing planetary economy, weighing connected shares of different logistics companies similar United Parcel Service (UPS), down 6.8%, and XPO Logistics (XPO), down 4.2%.

International Paper (IP) – The packaging and insubstantial products institution was downgraded to "underperform" from "hold" astatine Jefferies, which pointed to decelerating orders and an inventory glut successful the industry. For akin reasons, Jefferies chopped Packaging Corporation of America (PKG) to "underperform" from "hold" and chopped net estimates for WestRock (WRK). Sentiment surrounding the packaging companies is besides being deed by the FedEx nett warning. International Paper slid 4.6% successful premarket action, Packaging Corp. dropped 4.3% and WestRock mislaid 2.3%.

Uber Technologies (UBER) – Uber said it was investigating a cybersecurity incidental aft a hacker claimed entree was gained to the ride-sharing company's machine systems. Uber fell 4% successful the premarket.

AstraZeneca (AZN) – AstraZeneca gained 1.6% successful premarket trading aft the cause shaper received EU support for its Covid-19 antibody cocktail.

General Electric (GE) – GE slid 4.5% successful the premarket aft Chief Financial Officer Carolina Dybeck Happe told an concern league that proviso concatenation issues are inactive affecting the company's quality to present products to customers successful a timely manner. As a result, the company's currency travel remains nether pressure.

NCR (NCR) – NCR plunged 15.8% successful premarket enactment aft announcing plans to abstracted into 2 abstracted publically traded companies. One institution volition absorption connected integer commerce, the different connected NCR's flagship ATM business.

Extra Space Storage (EXR) – The relation of self-storage properties announced a woody worthy $590 cardinal to get rival Storage Express. Extra Space Storage roseate 2.9% successful the premarket.

Alcoa (AA) – Alcoa gained 1.1% successful premarket trading aft Morgan Stanley upgraded the aluminum shaper to "overweight" from "equal-weight". Morgan Stanley is cautious astir the mining assemblage contempt beardown equilibrium sheets and inexpensive valuations but sees "deep value" opportunities successful Alcoa and immoderate others.