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Honeywell, Super Micro Computer rise premarket; PepsiCo slips

investing.com 08/10/2024 - 11:33 AM

US Stock Futures Update

US stock futures traded higher on Tuesday, recovering from losses seen in the previous session ahead of more comments from a series of Fed speakers.

Major US Stock Movers Today

  • Honeywell (NASDAQ:HON): Stock rose 3% after reports indicated the conglomerate plans to spin off its Advanced Materials business.

  • Alphabet (NASDAQ:GOOGL): Stock rose 0.3% despite a US judge ordering its Google unit to modify the Android OS, allowing rivals to create their own app marketplaces and payment options, a setback in its antitrust defense.

  • PepsiCo (NASDAQ:PEP): Stock fell 1.2% after reporting third-quarter earnings that exceeded analyst expectations, though revenue missed estimates due to subdued performance in North America and international disruptions.

  • Super Micro Computer (NASDAQ:SMCI): Stock rose 3.8% after reporting a significant increase in graphics processing unit shipments, driven by growing demand for AI.

  • Alibaba (NYSE:BABA): Stock fell 7.9%, JD (NASDAQ:JD) fell 10%, and Bilibili (NASDAQ:BILI) slumped 15%, as US-listed Chinese companies declined following waning optimism around China's stimulus measures.

  • Qualcomm (NASDAQ:QCOM): Stock fell 1.3% after a security advisory addressed vulnerabilities in its product.

  • DocuSign (NASDAQ:DOCU): Stock rose 5.5% as S&P Dow Jones Indices announced the e-signature company will join the S&P Midcap 400 Index.

  • Affirm Holdings (NASDAQ:AFRM): Stock rose 4.6% after BTIG upgraded its rating to ‘buy’ from ‘neutral’, while American Express (NYSE:AXP) fell 0.7% after BTIG downgraded it to ‘sell’ from ‘neutral’.

  • Otis Worldwide (NYSE:OTIS): Stock fell 3.5% after Wolfe Research downgraded it to ‘peer perform’ from ‘outperform’, citing balanced risk/reward after recent gains.

  • Sage Therapeutics (NASDAQ:SAGE): Stock fell 13% following disappointing topline results from its potential drug aimed at treating mild cognitive impairment and mild dementia due to Alzheimer's disease.




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