Rivian, Spotify, CAVA Group rise premarket;Spirit Airlines slumps

Investing.com — US stock futures edged lower Wednesday, ahead of the release of key inflation data.

Here are some of the biggest premarket US stock movers today:

Rivian Automotive (NASDAQ:RIVN) stock surged over 12% after the electric vehicle maker and Volkswagenannounced an increased investment by the German automaker in a joint venture.

Spotify Technology (NYSE:SPOT) stock rose 7.5% after it clocked strong subscriber growth for the September quarter while issuing a solid forecast for the year.

CAVA Group (NYSE:CAVA) stock soared 14% after the Mediterranean fast-casual restaurant chain popped 14% after reporting a top- and bottom-line beat in the third quarter.

Skyworks Solutions (NASDAQ:SWKS) stock fell 6.4% after the semiconductor company’s forward guidance for the first quarter came in lighter than expectations.

Tesla (NASDAQ:TSLA) stock rose 2.6%, bouncing after the previous session’s sharp losses, even as the U.S. National Highway Traffic Safety Administration said the EV manufacturer is recalling 2,431 vehicles in the U.S. as loss of drive power can increase the risk of a crash, the sixth recall this year.

General Motors (NYSE:GM) stock fell 0.3% after the NHTSA said the auto giant will recall 461,839 vehicles over an issue with transmission.

Rocket Lab USA (NASDAQ:RKLB) stock soared 30% after the space infrastructure firm reported its third-quarter earnings and announced news of the first customer for its upcoming Neutron rocket.

Spirit Airlines (NYSE:SAVE) stock slumped 65% after the Wall Street Journal reported the troubled carrier was in final negotiations with bondholders on a restructuring plan to secure the support of key creditors.