US PRE-MARKET MOVERS: FDX, SMCI, NXST, TGNA, PL, UL, MKC, ARM, CMG, FIGS

ES -0.4% NQ -0.5% RTY -0.4% FDX +7.2%: Topped earnings expectations; raised outlook. SMCI -26.5%: US probe into workers about NVDA chips illegally diverted to China. NXST +1.3%, TGNA +9.4%: DOJ clear the NXST acquisition of TGNA. PL +17.3%: Earnings beat w/ outlook strong. UL +1.3%, MKC +0.5%: UL in talks to separate its food business and combine it with MKC in an all-stock deal. ARM +2.6%: Double upgraded at HSBC. CMG +1.2%: Upgraded at Mizuho to 'Outperform' from 'Neutral'. FIGS +5.5%: Upgraded at Oppenheimer to 'Outperform' from 'Perform'.