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Stock futures traded flat to slightly higher Tuesday, a day after the
S&P 500
finished up 0.5% and moved closer to its all-time. The broad market index stands just 1.2% below its record of 4,796.56 reached in early January 2022.
These stocks were poised to make moves Tuesday:
Alphabet,
the parent of search engine giant Google, agreed to pay $700 million and make certain changes to its app store in a settlement with a group of states that claimed Google operated its app store, Google Play, as an illegal monopoly.
Alphabet
shares rose slightly.
Heico,
the supplier of airplane parts and electronics, said fiscal fourth-quarter profit rose from a year earlier as revenue jumped 54% to $936.4 million and topped analysts’ estimates. The stock was up 3.1%.
Bluebird Bio
was falling 15% after the biotech company said it would sell $150 million of common stock in a public offering.
Plug Power
was downgraded to Underweight from Neutral at Piper Sandler and the price target on shares of the clean energy company was reduced to $2.30 from $6.50.
Plug Power
fell 3.4% to $4.28 in premarket trading.
UBS Group
was rising 2.7% after it was disclosed that activist investor Cevian Capital has taken a stake of 1.3% in the Swiss banking giant. Cevian paid €1.2 billion ($1.31 billion) for the stake, saying it sees significant value potential in
UBS
after its takeover of rival Credit Suisse.
Amgen
was up 0.7% to $277.46 after the biotechnology company was upgraded to Outperform from Market Perform at BMO Capital and the price target was raised to $326 rom $286.
Earnings reports are expected Tuesday from
FedEx,
Accenture,
FactSet Research Systems,
Worthington Enterprises,
and
FuelCell Energy.
Write to Joe Woelfel at joseph.woelfel@barrons.com
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