English
Français
Deutsch
Italiano
Português
Русский
Español
简体中文
日本語
Stock futures were falling Tuesday after Neel Kashkari, the president of the Federal Reserve Bank of Minneapolis, told The Wall Street Journal that the central bank still has work to do to bring inflation down to its target of 2%, denting rising hopes the Fed was done hiking interest rates.
Wall Street was entering Tuesday with the
S&P 500
closing higher for a sixth-straight session and the
Nasdaq Composite
posting its seventh-straight day of gains, the longest streak since January.
These stocks were poised to make moves Tuesday:
Alteryx
(AYX) was rising 17% after the software company reported a narrower-than-expected third-quarter loss and sales of $232 million that beat analysts’ estimates.
Tripadvisor
(TRIP) rose 11% after the online travel platform reported adjusted earnings and sales in the third quarter that beat Wall Street expectations. Sales of $533 million rose 16% from a year earlier.
Vertex Pharmaceuticals
(VRTX) reported third-quarter adjusted earnings of $4.08 a share, topping Wall Street expectations of $3.92. Revenue rose 6% to $2.48 billion but just missed forecasts.
Vertex
said the revenue gains primarily were driven by the “continued performance” of its cystic fibrosis drug Trikafta in the U.S. Vertex raised its full-year guidance for cystic-fibrosis product revenue to $9.85 billion, versus prior guidance of $9.7 billion to $9.8 billion. The stock declined 2.3%.
International Flavors & Fragrances
(IFF) announced an agreement to continue a previous cooperation agreement with Icahn Capital LP and its affiliates. The company, which makes flavors and fragrances used in food, beverage, personal care and household products, also swung to a profit in the third quarter from a year-earlier loss.
UBS
(UBS) reported a third-quarter loss primarily on costs related to the integration of Credit Suisse. But shares of the Swiss bank were rising 3.6% after UBS reported that revenue jumped 42% to nearly $11.7 billion and topped expectations. UBS closed its acquisition of Credit Suisse in June.
RingCentral
(RNG), the provider of cloud-based communications services, posted third-quarter adjusted earnings and revenue that topped analysts’ estimates and raised its forecast for the year. The stock was up 6.7%.
Sanmina
(SANM) was down 10% after the electronics manufacturing company said it expects fiscal first-quarter adjusted profit of $1.20 to $1.30 a share, below analysts’ estimates of $1.52, and revenue of $1.85 billion to $1.95 billion, below estimates of $2.19 billion.
Earnings reports are expected Tuesday from
Uber Technologies
(UBER),
Gilead Sciences
(GILD),
Occidental Petroleum
(OXY),
D.R. Horton
(DHI),
Datadog
(DDOG),
eBay
(EBAY),
Rivian Automotive
(RIVN),
Lucid Group
(LCID),
Akamai Technologies
(AKAM),
Toast
(TOST),
GlobalFoundries
(GFS), and
Robinhood Markets
(HOOD).
Write to Joe Woelfel at [email protected]
Read the full article here
