Pfizer, Tesla, Caterpillar, JetBlue fall premarket; Pinterest, Arista rise
Investing.com -- U.S. futures edged higher Tuesday, ahead of the start of the latest two-day policy meeting of the U.S. Federal Reserve.
Here are some of the biggest premarket U.S. stock movers today:
Pfizer (NYSE: PFE) stock fell 0.2% after the drugmaker reported its first quarterly loss since 2019, as it recorded charges largely related to its COVID products, co-developed with BioNTech (NASDAQ: BNTX).
Pinterest (NYSE: PINS) stock soared 16% after the image sharing platform reported third quarter results that topped expectations as efforts to improve monetization of its international users on its platform bolstered performance.
Tesla (NASDAQ: TSLA) stock fell 1.5%, continuing Monday’s hefty losses after the EV manufacturer’s key supplier Panasonic (OTC: PCRFY) said it cut automotive battery production in the September quarter, cementing concerns of a global slowdown in electric-vehicle sales.
Marathon Petroleum (NYSE: MPC) stock rose 0.5% after the refiner beat estimates for third-quarter profit, benefiting from strong demand for fuel and refined products amid tight supplies.
Caterpillar (NYSE: CAT) stock fell 4.3% after the heavy equipment manufacturer reported a decline in its order backlog, indicating customer demand may be waning. This has overshadowed a rise in third-quarter profit.
VF Corp (NYSE: VFC) stock dropped 6% after the apparel company withdrew its full-year revenue and profit forecasts, with demand for its higher-priced apparel and footwear easing.
Arista Networks (NYSE: ANET) stock gained 10% after the cloud networking solutions developer reported better than expected results in the latest quarter, signaling that demand for cloud and artificial-intelligence offerings remains strong.
JetBlue (NASDAQ: JBLU) stock fell 7.1% after the low-cost airline posted a wider-than-expected loss in the third quarter and offered disappointing full-year guidance.
Anheuser Busch Inbev (EBR: ABI) (NYSE: BUD) ADRs rose 4% after the world’s largest brewer announced a $1 billion share buyback after beating third-quarter expectations, although the Bud Light boycott hit U.S. revenues.
BP (NYSE: BP) ADRs fell 3.1% after the energy giant missed expectations with its third-quarter earnings as strong oil trading and refining margins were offset by weak gas results.