Premarket movers: Humana rallies; SpaceX deal sends telco stocks down

Investing.com - U.S. stock futures were broadly higher on Friday as investors weighed debate over OpenAI's revenue outlook, while oil prices eased after President Donald Trump said the U.S. would not launch new attacks on Iran before the November midterm elections.

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By 06:59 ET, Dow futures were mostly unchanged, S&P 500 futures had climbed 28 points, or 0.4%, and Nasdaq 100 futures had gained 233 points, or 0.8%.

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

Humana shares surged 15% in premarket trading after the health insurer emerged as the biggest beneficiary of the new star ratings for 2027 Medicare Advantage plans. Humana said 95% of its Medicare Advantage members would be enrolled in plans rated four stars or higher in 2027, up sharply from 20% in 2026, reflecting improvements in measures of care quality and member experience. Analysts at J.P. Morgan had expected the proportion to reach 60% to 70%.

The ratings matter because the U.S. health department evaluates Medicare Advantage and prescription drug plans on a one-to-five-star scale. Higher ratings can unlock billions of dollars in government bonus payments and help insurers attract more members, making the improvement a potentially significant financial boost for Humana.

Delta Air Lines fell around 3.3% in premarket trading after cutting its annual profit forecast by nearly a quarter at the midpoint, as surging fuel costs outweighed strong travel demand and higher ticket prices. The reduction highlights the pressure facing U.S. airlines as elevated fuel prices squeeze profitability, while further fare increases could test passengers' willingness to keep spending after substantial increases earlier this year.

Lumentum rose 3.8% in premarket trading after Chief Executive Michael Hurlston told Bloomberg Television in Tokyo that demand for the company's optoelectronic components had effectively booked out manufacturing capacity through early 2029. The demand surge is being driven by technology companies racing to build faster artificial intelligence data centers.

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Hurlston said Lumentum could not meet approximately 70% of demand for some products through next year and would be unable to address roughly 30% of demand for certain other products through 2028. The comments underscored the widening gap between demand for optical components and available supply, as hyperscalers expand their AI infrastructure.

Coherent gained 3.5% in premarket trading, tracking Lumentum higher. Investors interpreted the supply constraints outlined by Lumentum's CEO as a positive signal for Coherent's own order book and pricing power, sparking a broader rally across U.S. optical communications stocks.

American Express fell almost 2% in after-hours trading on Thursday after the Office of the Comptroller of the Currency imposed a $350 million penalty on the company over compliance failures that resulted in approximately $13 billion of suspected money laundering activity going undetected between 2014 and 2025.

The OCC said American Express's U.S. national bank subsidiary had systemic deficiencies in its anti-money laundering program, including gaps in staff expertise and training, internal controls and independent testing. The bank neither admitted nor denied the findings.

SpaceX gained 3.7% after the rocket and satellite company struck a deal to acquire a nationwide low-band spectrum portfolio, intensifying its challenge to established U.S. wireless carriers through satellite-based mobile services.

The development sent shares of traditional telecom companies sharply lower in premarket trading. T-Mobile US, Verizon Communications and AT&T fell between 5% and 6% as investors assessed the potential competitive threat from SpaceX's wireless ambitions.

Telecom tower operators moved in the opposite direction, with American Tower, Crown Castle and SBA Communications advancing between 6% and 10%. Investors appeared to bet that SpaceX's expansion into wireless services could ultimately support demand for additional terrestrial infrastructure, even as traditional mobile operators faced renewed competitive concerns.

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