Stock futures pointed to modest gains Tuesday with investors trying to make sense of mixed trade policy signals from the Trump administration.
These stocks were poised to make moves Tuesday:
Boeing was down 2.6% after a Bloomberg report said China ordered its airlines not to take any further deliveries of the company's jets as part of trade war between Washington and Beijing.
Tesla Motors rose 0.3% to $253. The stock chart of the electric-vehicle maker on Monday formed a death cross, a trading term for when a shorter-term moving average crosses over a longer-term moving average. In this instance, the 50-day moving average moved below the 200-day moving average. A death cross often is a sign that a stock is losing momentum.
Netflix aims to achieve a $1 trillion market capitalization and double its revenue to $39 billion by 2030, according to The Wall Street Journal, which was told about the forecasts from people who attended the streaming company's annual business review meeting last month. Netflix also set a goal of tripling its operating income by 2030 from $10 billion last year, one of the people told the Journal. Netflix shares were rising 2.4% in premarket trading. The company is scheduled to report quarterly earnings on Thursday.
Palantir Technologies Inc. rose 1.5% in premarket trading. The data-analytics company closed up 4.6% on Tuesday after the North Atlantic Treaty Organization said it would be using the company's artificial intelligence-enabled software to modernize its military capabilities. William Blair analyst Louie DiPalma said the agreement has "broader geopolitical significance than just another win for Palantir" amid Wall Street concerns that Europe wants to rely less on American defense contractors.
Shares of Apple were up 0.4% in the premarket session. The stock rose 2.2% on Monday following President Donald Trump's rollback of certain tariffs for the tech industry. Apple remains down almost 10% since the president's tariffs announcement on April 2.
Allegro MicroSystems, Inc. was falling 12% to $19.40 after ON Semiconductor withdrew its proposal to acquire the chip maker for $35.10 a share. In a statement, ON Semiconductor said it determined there was "no actionable path forward." Allegro spurned ON Semiconductor's last proposal in early March that had an implied equity value of $6.9 billion. On Semi rose 0.5%.
APPLIED DIGITAL CORP , the digital infrastructure company, reported a fiscal third-quarter loss of 8 cents a share, narrower than analysts' estimates that called for a loss of 10 cents. Revenue jumped 22% to $52.9 million but missed expectations of $64.8 million. The stock fell 12% in premarket trading.
Earnings reports are expected Tuesday from Bank of America, Citigroup, Johnson & Johnson, PNC Financial, United Airlines, Interactive Brokers, and J.B. Hunt Transport Services.
Analysts expect Bank of America to post first-quarter earnings of 82 cents a share. Revenue was forecast at $26.97 billion. Shares of the bank were up 0.9% in premarket trading. Citigroup, meanwhile, gained 1.2% ahead of earnings Tuesday from the New York bank.
Healthcare giant Johnson & Johnson slipped 0.2% in premarket trading ahead of its first-quarter earnings report. Wall Street expects J&J to post adjusted earnings in the period of $2.69 a share on revenue of $21.56 billion.
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