Chegg, Merck and La-Z-Boy rise premarket; Lennar, GameStop fall

Investing.com -- U.S. stock futures edged slightly higher Tuesday, ahead of the release of key retail sales to offer clues towards the health of the U.S. economy.

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

• Chegg (NYSE:CHGG) stock soared 18% after the education technology group announced plans to slash 23% of its global workforce as part of a broader restructuring push.

• Lennar (NYSE:LEN) stock dropped 2.7% after the homebuilder forecast its third-quarter home deliveries below expectations, a sign that demand for new homes is expected to remain sluggish as mortgage rates hover at a two-decade high.

• GameStop (NYSE:GME) stock fell 2.6%, continuing the previous session’s sharp losses, after CEO Ryan Cohen told investors that the video game retailer plans to operate a smaller network of stores

• Tesla (NASDAQ:TSLA) stock fell 0.4% after the electric car manufacturer initiated its battle for legal recognition of Chief Executive Elon Musk's massive $56 billion pay package.

• Apple (NASDAQ:AAPL) stock rose 0.5% after the iPhone maker scrapped its "buy now, pay later" service in the U.S., bringing an end to the offering only a little over a year after it was first announced.

• Merck (NYSE:MRK) stock rose 1.4% after the U.S. Food and Drug Administration approved the drugmaker’s next-generation vaccine to protect adults against the pneumococcal disease.

• La-Z-Boy (NYSE:LZB) stock rose 9.7% after the furniture manufacturer reported a robust finish to its fiscal year 2024, with fourth-quarter earnings and revenue surpassing expectations.

• Boeing (NYSE:BA) stock fell 0.4% after the Wall Street Journal reported GE Aerospace CEO Larry Culp has declined the planemaker’s request to consider taking over as the chief executive.