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Bristol Myers, Carvana, MicroStrategy, Adobe, and More Stock Market Movers Monday

Bristol Myers stock jumped after the Food and Drug Administration approved its Sotyktu drug for psoriasis.

Daniel Acker/Bloomberg

Stock futures were higher Monday as investors awaited the release of the latest data on U.S. inflation, coming Tuesday.

Futures for the   Dow Jones Industrial Averag e were up 0.3% and  S&P 500  futures gained 0.5%. Futures for the tech-heavy  Nasdaq Composite  were rising 0.5%.

These are some of the stocks making notable moves in premarket trading Monday.

Bristol Myers Squibb (BMY) jumped 7.6% after the Food and Drug Administration approved its Sotyktu drug for psoriasis.

Carvana (CVNA) was rising 6% after an analyst from Piper Sandler upgraded the rating on the stock to Overweight from Neutral.,

Coinbase Global (COIN) rose 2.8%, Marathon Digital Holdings (MARA) was up 2.8%, and Riot Blockchain (RIOT) gained 3.4% as the price of Bitcoin rose above $22,000.

MicroStrategy (MSTR) said in a filing with the Securities and Exchange Commission that it may offer and sell up to $500 million in common stock for the purposes of buying more  Bitcoin. Shares of the business-intelligence software maker were down 3.6% early Monday after climbing 11.7% Friday.

Adobe (ADBE) was 1.1% lower after an analyst from Mizuho downgraded the rating stock to Neutral from Buy. Adobe reports earnings on Thursday.

Twitter (TWTR) said Elon Musk’s third notice of termination was invalid. The stock was down 0.9% on Monday, one day before Twitter shareholders meet to vote on Musk’s $44 billion deal to buy the social media company.

Unions that represent about 90,000 rail workers are threatening to strike. The deadline for accepting a labor contract compromise proposed last month by a White House task force for North American freight railroads and their labor unions is Friday. Shares of Union Pacific (UNP) were up 1.7%, Norfolk Southern (NSC) stock was 0.7% higher and CSX ( CSX ) stock was flat.

Write to Angela Palumbo at angela.palumbo@dowjones.com