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Amazon stocks historically perform better after the end of Prime Day events.
The time of dreams
Stock futures traded mixed on Tuesday after stocks fell in three sessions.
These stocks were set to move on Tuesday:
Amazon.co.uk
(AMZN) rose 0.5% in premarket trading as the online retailer kicked off Prime Day, its shopping extravaganza, at 3 a.m. ET.
Amazon
Stocks historically do better after the end of Prime Day events, according to Dow Jones Market Data. Last year, members purchased more than 300 million items globally during the sale, a record for Amazon.
Microsoft
(MSFT) rose slightly in premarket trading after it was revealed the company would be laying off more workers in addition to the 10,000 jobs the software giant announced earlier this year it was cutting.
UberTechnologies
(UBER) fell 0.7% following a Bloomberg report that chief financial officer Nelson Chai planned to leave the ride-sharing company. Chai has informed CEO Dara Khosrowshahi of his intentions to leave, although a decision on when has not been made, people familiar with the matter told Bloomberg. Chai’s departure would mark the largest management departure since Uber’s IPO in 2019, Bloomberg noted.
WD-40
(WDFC), the maker of cleaning products and lubricants, reported fiscal third-quarter earnings and sales that rose from a year earlier and beat analysts’ expectations. The company also reiterated its guidance for the year. The stock rose 4% in premarket trading.
Iovance Biotherapeutics
(IOVA) fell more than 11% in premarket trading after the company, a developer of novel cancer immunotherapies, announced it was planning an underwritten public offering of $150 million in common stock.
Zillow Group
(Z) changed from Neutral to Overweight by
Piper Sandler
and the real estate services company’s stock price target was raised to $62 from $42.
Zillow
gained 3.% in premarket trading to $49.74.
Sun Power
(SPWR) is up 1.2% after
German Bank
placed a “Catalyst Call: Sell” on the stock as a short-term investment idea and maintained a Hold rating on the stock, the Fly reported.
Write to Joe Woelfel at joseph.woelfel@barrons.com