Best Buy, 3M, Oracle and AT&T rise premarket; Salesforce falls
Investing.com -- U.S. futures traded largely unchanged Tuesday, with investors warily awaiting a deluge of economic data this week, culminating with Friday's monthly employment report.
Here are some of the biggest premarket U.S. stock movers today:
Best Buy (NYSE: BBY) stock rose 1.1% after the electronics retailer reported a smaller-than-expected drop in quarterly comparable sales, as deeper discounts encouraged consumers to shop.
Shoe Carnival (NASDAQ: SCVL) stock fell 9.2% after the footwear retailer cut its revenue guidance for the full year to $1.2 billion at the midpoint from $1.24B, citing a “challenging economic backdrop.”
3M Company (NYSE: MMM) stock rose 0.8% after the industrial giant agreed to pay $6B to settle nearly 260,000 lawsuits accusing it of selling defective combat earplugs that caused hearing loss in thousands of current and former U.S. military service members.
Salesforce (NYSE: CRM) stock fell 2% after JPMorgan removed the business software maker from its U.S. analyst focus list.
Verizon (NYSE: VZ) stock rose 1.5% and AT&T (NYSE: T) stock climbed 1.7% after Citigroup upgraded both telecom giants to ‘buy’ from ‘neutral’, saying they support their dividend yields.
Oracle (NYSE: ORCL) stock rose 2.7% after UBS upgraded the tech company to ‘buy’ from ‘neutral’, saying it can jump another 20% as its AI story has “plenty of room” to run.
Catalent (NYSE: CTLT) stock rose 3.6% after the contract drug manufacturer confirmed it has reached a settlement with activist investor Elliot Investment Management, agreeing to add four new directors to its board and to conduct a "strategic review." It added it was delaying its annual report.
Nio (NYSE: NIO) ADRS fell 6.5% after the Chinese EV maker posted a widening of quarterly losses as it missed revenue expectations for the fourth straight quarter.