Stock futures declined Tuesday with investors focused on a batch of quarterly earnings reports due in the session ahead and later this week.
These stocks were poised to make moves Tuesday:
Apple dipped 0.1% in premarket trading to $261.97 after shares rose 3.9% on Monday to close at a record high of $262.24. Apple's market cap of $3.89 trillion moved its valuation past Microsoft for the first time since Sept. 25, according to Dow Jones Market Data, making the iPhone manufacturer the second-largest U.S. company by market cap behind Nvidia. Driving the gains Monday were a report on strong iPhone 17 sales and an upgrade to Buy from analysts at Loop Capital.
Alphabet, the parent of search giant Google, also set a record high Monday, rising 1.3% to finish at $256.55. Shares have risen for six straight sessions, gaining 8.4% over the span. Analysts at Oppenheimer on Monday said Alphabet was closer than Meta Platforms to seeing returns on its artificial-intelligence investments, making it the better bet for the short term. In premarket trading Tuesday, Alphabet fell 0.5%.
Amazon shares gained 0.4%, a day after its cloud computing business , Amazon Web Services, suffered a major outage, disrupting numerous websites and social-media platforms. The root cause of the outage was "an underlying internal subsystem responsible for monitoring the health of our network load balancers," AWS said. By late Monday, the company said all AWS services had returned to normal operations.
Zions rose 3% after reporting third-quarter earnings of $1.48 a share, topping the year-earlier profit of $1.37. Zions last week disclosed a $50 million charge related to an internal investigation that identified "apparent misrepresentations" by two borrowers. News of the charge, along with a lawsuit Zions filed against two borrowers involved in the loans, sent Wall Street sharply lower last Thursday as the disclosure ratcheted up concerns that lenders were failing to spot problems with loans and that more problem credits might be lurking elsewhere.
Packaging company Crown jumped 8.2% after it hiked its full-year earnings guidance. Crown now sees adjusted earnings of between $7.70 and $7.80 a share, up from a prior call of between $7.10 and $7.50. The company reported third-quarter adjusted earnings of $2.24 a share, ahead of Wall Street estimates of $1.99.
Beyond Meat soared 28% to $1.88 after it appeared to be the newest target for retail investors and the meme stock crowd. The stock surged 127% Monday. Coming into Tuesday, shares of the producer of plant-based meat alternatives have fallen 61% this year amid declining sales and soft demand for its products.
Shares of electric-vehicle maker Tesla fell 0.6% in the premarket session. Tesla is scheduled to report third-quarter earnings after the closing bell Wednesday. Wall Street expects earnings in the period of 55 cents a share on revenue of $27.2 billion. Tesla already has announced it delivered a record 497,099 cars in the third quarter, about 54,000 vehicles more than analysts' projected.
Fluor rose 7.1% after The Wall Street Journal reported activist investor Starboard Value has taken a nearly 5% stake in the engineering and construction company and plans to push for ways to boost the shares. The Journal report cited people familiar with the matter.
Netflix gained 0.4% in premarket trading. The streaming giant is scheduled to report third-quarter earnings after the closing bell Tuesday. Analysts expect Netflix to post adjusted earnings of $6.96 a share on revenue of $11.5 billion. Netflix enters Tuesday riding a two-session winning streak and gains of 39% for the year.
GE Aerospace rose 0.9% ahead of third-quarter earnings. Wall Street expects adjusted earnings from the maker of jet engines of $1.46 a share on revenue of $10.4 billion. Sales and earnings have been growing at the company with higher demand for commercial travel and defense technologies, and GE has been seeing improved profit margins across its business.