Stock futures edged lower as Wall Street awaits a flood of economic data Tuesday and the rest of the week that will close out what has been a tough month for equities.
These stocks were poised to make moves Tuesday:
The board of
(MMM) approved a $6 billion settlement to resolve claims it sold faulty combat earplugs to the U.S. military, The Wall Street Journal reported, citing people familiar with the matter. The settlement would be paid out over a number of years. The Journal had reported over the weekend that 3M and plaintiffs attorneys were nearing a settlement of $5.5 billion. 3M shares were rising 0.4% in premarket trading after closing Monday with a gain of 5.2%.
(T) was rising 1.6% to $14.44 in premarket trading, while
(VZ) gained 1.5% to $34.06. Shares of both telecommunications giants were upgraded to Buy from Neutral at
‘s price target was left unchanged at $17, while the price target of Verizon stock was increased to $40 from $39.
(HEI), a maker of products for the aviation, space, defense, medical, telecommunications, and electronics industries, reported fiscal third-quarter earnings and sales that beat analysts’ estimates but operating margins declined to 20.7% from 22.6% a year earlier. The stock was down 5.3% in premarket trading.
(CTLT) shares rose slightly following a Reuters report that said the drug manufacturer was close to reaching a settlement with activist investor Elliott Investment Management that would include adding new board directors and a pledge to review strategic alternatives such as the sale of the company.
is scheduled to report fiscal fourth-quarter earnings before the opening bell Tuesday.
) is expected by analysts to report a quarterly loss Tuesday of 33 cents a share on sales of $1.3 billion, according to Bloomberg. The second-quarter report from the Chinese electric-vehicle maker will arrive amid questions about competition, demand, pricing, and the Chinese economy. U.S.-listed shares of NIO rose 1.8% ahead of the report.
(BBY), the consumer electronics chain, is expected by Wall Street to report fiscal second-quarter adjusted earnings of $1.06 a share on revenue of $9.52 billion. A year earlier,
earned $1.54 a share on revenue of $10.6 billion. Best Buy was rising 2.6%.
Earnings reports are also expected Tuesday from
Hewlett Packard Enterprise
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