(9/10) - Tuesday's Pre-Market News & Stock Movers Good Morning StockBoarders! Happy Tuesday! Stock futures are flat as September sluggishness continues, traders await inflation data: Live updates Stock futures were mostly flat Tuesday after the major averages rebounded from their worst week in 2024. Futures tied to the S&P 500 and Nasdaq 100 futures each added about 0.1%. Dow Jones Industrial Average futures dipped 16 points, or less than 0.1%. Cloud platform company Oracle surged about 8% after posting fiscal first-quarter results that topped expectations. Oracle also announced a partnership with Amazon Web Services to provide database services. On Monday, the three major averages made a sharp comeback after posting their worst week this year as investors bought the dip. The S&P 500 popped 1.16% to snap a four-day run of losses and post its first winning day in September. The Nasdaq Composite also closed 1.16% higher, aided by a jump in Nvidia. The Dow climbed 484 points, or 1.2%. These moves come as investors bet that a widely anticipated interest rate cut at the Federal Reserve’s Sept. 17-18 meeting could help assuage concerns over a weakening economy. August’s payrolls report, which came out last Friday, reflected growth of 142,000, below economists’ expectations. The results helped fuel a sell-off that day. Traders have their eyes on two key economic reports that will likely be the next catalysts for stocks. The consumer price index report for August is due out Wednesday, followed by the producer price index on Thursday. September is historically a weak month for equities. Investors remain cautious about seasonality’s effect on stock performance as well as uncertainty around the approaching U.S. presidential election on Nov. 5. “We concur with the view that the market is likely to remain choppy at least until the election,” Bank of America equity and quantitative strategist Ohsung Kwon wrote Monday. “Macro data have been weakening, especially in manufacturing/goods, which represent 50% of earnings for the S&P 500.” STOCK FUTURES NOW: YESTERDAY'S MARKET HEAT MAP YESTERDAY'S S&P SECTORS: TODAY'S ECONOMIC CALENDAR: THIS WEEK'S ECONOMIC CALENDAR: MOST ACTIVE TRENDING DISCUSSIONS (STOCK SYMBOLS ARE CLICKABLE!): ALT Altimmune Inc GME GameStop Corp AAPL Apple Inc JASMY.X JasmyCoin ORCL Oracle Corp. GOOGL Alphabet Inc - Class A ASO Academy Sports and Outdoors Inc PLTR Palantir Technologies Inc VRDN Viridian Therapeutics Inc VKTX Viking Therapeutics Inc THIS WEEK'S IPO'S: THIS WEEK'S EARNINGS CALENDAR: ($GME $ADBE $ORCL $MANU $BIG $RH $SIG $ASO $RBRK $LMNR $PLAY $BSEM $KR $CVGW $ABVX $AVO $WOOF $CGNT $SKIL $CTLP $HEPS $INNV $MTRX $EPM $BIOX $MAMA $OXM $DBI $CMA $CAL $VRA $LSAK $TEN $TKC $MYTE $FARM $IPHA $ISPR $DLNG $ADSE $LOVE $CDMO) THIS MORNING'S PRE-MARKET EARNINGS RELEASES: BEFORE TODAY'S MARKET OPEN: THIS AFTERNOON'S AFTER-HOURS EARNINGS RELEASES: AFTER TODAY'S MARKET CLOSE: YESTERDAY'S ANALYST UPGRADES/DOWNGRADES: YESTERDAY'S INSIDER TRADING FILINGS: (N/A.) TODAY'S DIVIDEND CALENDAR: THIS MORNING'S PRE-MARKET STOCK NEWS MOVERS: source: cnbc.com Mission Produce — The avocado producer surged 21.6% after reporting revenue for the fiscal third quarter jumped 24% from a year ago. The company reported sales of $324 million, compared with $261.4 million in the same three-month period one year before. Rival avocado producer Calavo Growers climbed 6.5% after earning 57 cents a share in its fiscal third quarter against analyst estimates of 43 cents a share, and doubling its quarterly dividend to 20 cents a share. Oracle — The cloud infrastructure platform rallied 8% after beating expectations in its fiscal first quarter, when it earned an adjusted $1.39 a share on $13.31 billion in revenue, while analysts polled by LSEG forecast $1.32 a share on $13.23 billion. Boot Barn — Shares rose 6% after the Western-style retailer provided an update on its recent performance ahead of a Piper Sandler Growth Frontiers Conference presentation. Boot Barn announced preliminary consolidated same-store sales growth of 4% in its fiscal second quarter. Apple — Shares slipped nearly 1% after the European Union’s top court ruled that Apple must pay $13 billion in back taxes. That comes on the heels of the company unveiling the iPhone 16 and other products during an event in California. Hewlett Packard Enterprise — The tech hardware company saw shares drop more than 5% in premarket trading on plans to sell $1.35 billion of Series C mandatory company convertible preferred stock. Proceeds will be used to fund the acquisition of Juniper Networks. Rubrik — The data management software stock dropped nearly 7% despite topping Wall Street’s quarterly estimates. The company posted a smaller-than-expected loss of 40 cents a share. Revenue came in at $205 million, ahead of the $196 million seen by analysts polled by LSEG. Patterson-UTI Energy — The oil and gas service provider climbed more than 7% after saying it had an average of 107 rigs operating in the U.S. in August. Alibaba — U.S.-traded shares of the China-based e-commerce company rose more than 2% after Alibaba’s Hong Kong shares were added to the stock connect programs linking exchanges in Shanghai and Shenzhen. The move is expected to bring in more investments from mainland China, according to Reuters. Johnson Controls International — Shares rose nearly 2% after JPMorgan upgraded the stock to buy from neutral. The bank cited the company’s data center business and search for a new CEO as catalysts. Anheuser-Busch Inbev SA — The beer maker added 1.7% after being named a top pick among global brewers by Morgan Stanley. The Wall Street bank said there’s upside to valuation, despite the stock presenting a “mixed picture” in the near term. Equity Residential — The real estate investment trust rose 1.3% on the back of a Wells Fargo upgrade to overweight from equal weight. Wells Fargo said the imprved recommendation comes after Equity Residential beat expectations for earnings over the summer. Have a happy trading day to everyone in here on this Tuesday!
