US stock futures declined Tuesday ahead of a speech from Federal Reserve Chairman Jerome Powell at a European Central Bank forum in Portugal. Equities closed higher Monday, and the Nasdaq Composite finished at a record high in the first trading session of the second half of 2024.
These stocks were poised to make moves Tuesday:
Tesla - Tesla was down 1% in premarket trading ahead of the expected release Tuesday of the electric-vehicle maker's second-quarter deliveries. Analysts estimates Tesla will report deliveries of 436,000 vehicles in the period, down from 466,000 vehicles a year earlier. The stock closed Monday with a gain of 6.1%, finishing the session at $209.86.
Nvidia - Shares of Nvidia were falling 1.3%. The stock closed with a gain of 0.6% on Monday, snapping a two-session losing streak. A Reuters report on Monday said Nvidia, the dominant maker of graphics-processing units for powering artificial-intelligence technology, would be charged by the French antitrust regulator for allegedly anticompetitive practices.
Sea Ltd - Sea shares dropped another 2.4% in premarket trading after falling 2.8% yesterday. DBS Bank downgraded Sea Limited to Hold from Buy with a price target of $75, down from $96.
Chewy - Chewy rose 2% in premarket trading. Shares of the pet-supplies retailer rose as much as 20% in Monday's premarket session after Keith Gill, better known as Roaring Kitty, disclosed a 6.6% stake in the company, but closed with a decline of 6.6%.
Paramount Global - Paramount Global rose 4.5% in premarket trading after a report that media mogul Barry Diller and his company IAC Inc are exploring a bid to take control of the entertainment giant.
Norwegian Cruise Line, Carnival - Norwegian Cruise Line Holdings fell 0.7% in premarket trading and Carnival declined 1.2%. Shares of the cruise companies were the leading decliners in the S&P 500 on Monday as as Hurricane Beryl made landfall in the Caribbean. The hurricane early Tuesday strengthened to a Category 5 storm.
NANO Nuclear Energy Inc - NANO Nuclear Energy shares jumped another 8% in premarket trading after soaring 20% on Monday. It signed a preliminary deal with Curio Solutions to optimize Curio's nuclear fuel recycling capabilities for Nano's next-generation portable nuclear microreactors that are currently in development.
Earnings reports are expected Tuesday from MSC Industrial Direct, and Simulations Plus.
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