Stock futures declined Tuesday as investors continued ditching tech stocks to extend a recent selloff.
These stocks were poised to make moves in the premarket session:
Norwegian Cruise Line was the S&P 500's top performer ahead of the opening bell, jumping 9%. Activist Elliott Investment Management has built a more than 10% stake in the cruise-line operator and plans to push for changes, The Wall Street Journal reported, citing people familiar with the matter. Norwegian and Elliott didn't immediately respond to requests for comment from Barron's.
Paramount Skydance Corp rose 3% in premarket trading as investors bet the CBS owner's chances of beating Netflix to win the Warner Bros. Discovery were improving. Warner board members are considering reopening talks with the CBS owner after receiving its latest amended offer, Bloomberg News reported on Sunday, citing people with knowledge of the matter. Warner Bros. didn't respond to a request for comment from Barron's.
Danaher dropped 6% after the Financial Times reported that the life sciences manufacturer qas close to buying Masimo at a valuation of around $9.9 billion. Shares in Masimo, which closed with a market capitalization of $6.99 billion on Friday, rallied 36% in the premarket session to $179.48. Danaher and Masimo didn't immediately respond to requests for comment from Barron's.
Amazon slipped 0.3%. The online retailer enters Tuesday down nine sessions in a row, its longest losing streak since July 2006, according to Dow Jones Market Data. The stock has entered bear market territory, falling more than 20% from its most recent high. Like Microsoft, Amazon has been penalized for heavy spending on investments in artificial intelligence.
Infosys climbed 4% after the Indian IT company announced a collaboration to develop custom artificial-intelligence agents with Anthropic, the developer of the Claude large-language model. India is hosting an AI summit this week, with OpenAI CEO Sam Altman and Alphabet CEO Sundar Pichai among the executives set to attend.
Newmont Mining fell 3.2% as a selloff in gold weighed on the precious metal miner's shares. The most actively traded bullion contract fell 1.9% to $4,952 an ounce on Tuesday, dragged down by a stronger dollar, easing geopolitical tensions, and the start of the Lunar New Year holiday in Asia.
ZIM Integrated Shipping Services Ltd. surged 35% after German shipping giant Hapag-Lloyd agreed to buy its U.S.-listed Israeli rival for $4.2 billion.
TripAdvisor slipped 1%. Activist investor Starboard Value has a stake of more than 9% in the online travel company and is pushing for a radical overhaul of its board of directors, The Wall Street Journal reported on Monday, citing a letter sent by the investment firm and people familiar with the matter. Starboard and Tripadvisor didn't immediately respond to requests for comment from Barron's.
Earnings reports are expected Tuesday from Medtronic, Palo Alto Networks, Cadence Design Systems, Vulcan Materials, Kenvue, Devon Energy, Leidos Holdings, and Toll Brothers.
Reports are expected later in the week from Walmart, Deere, Newmont, Analog Devices, Booking Holdings, Carvana, DoorDash, Occidental Petroleum, Hormel Foods, Figma, Molson Coors, Live Nation Entertainment, Klarna, Akamai Technologies, and Quanta Services.