Stock futures pointed lower Tuesday as Wall Street comes off its second-straight day of gains and investors prepare for the latest U.S. inflation readings.
These stocks were poised to make moves Tuesday:
(ticker: ORCL) reported fiscal first-quarter adjusted earnings that were slightly higher than expected and revenue in the period that was in line with estimates. The stock was falling 10% in premarket trading, however, after
Chief Executive Safra Catz told analysts on a conference call that the software company expected second-quarter earnings of $1.30 to $1.34 a share on revenue growth of 5% to 7%, or $12.89 billion to $13.13 billion. Analysts had been forecasting earnings of $1.34 a share on revenue of $13.28 billion.
Watches, and potentially new AirPods.
a deal that creates a paper and packaging company worth about $20 billion. Under the agreement, WestRock shareholders will get one new Smurfit WestRock share and $5 in cash, equivalent to $43.51 a share. Once the merger closes,
shareholders will own 50.4% of the combined business with WestRock owning the rest. Smurfit Kappa shares traded in London declined 9.1%.
(SLRN), the Los Angeles-based pharmaceutical company, tumbled 59% after the company disclosed that its skin drug candidate’s primary endpoint by week 16 of a Phase 2b/3 trial didn’t meet statistical significance.
(GERN) rose 6% after shares of the biotech company were upgraded to Buy from Neutral at
(GOOGL) slipped 0.3% in premarket trading as the Justice Department’s long-anticipated antitrust case against Google, which accuses the company of illegally monopolizing the internet search market, begins Tuesday in Washington. The case is expected to last until mid-November.
Casey’s General Stores
(CASY), the convenience-store operator, reported that same-store sales inside its retail locations during its fiscal first quarter rose 5.4%, topping analysts’ estimates. “Inside same-store sales were strong, driven by whole pizza pies and the successful launch of Casey’s Thin Crust Pizza,” the company said in a statement. Shares rose 5.7%.
(ENPH) fell 1.3% after the maker of solar inverters was downgraded to Hold from Buy at
(CVS) was upgraded to Outperform from Peer Perform at Wolfe Research with a price target of $80. CVS shares rose 0.7% in premarket trading to $69.20.
Write to Joe Woelfel at [email protected]