Stock futures were trading higher Tuesday and the S&P 500 was on track to extend its winning streak to nine sessions.
These stocks were poised to make moves Tuesday:
Palo Alto Networks reported fiscal fourth-quarter adjusted earnings of $1.51 a share, beating analysts' estimates of $1.41, and revenue of $2.19 billion rose from $1.95 billion a year earlier and topped forecasts of $2.16 billion. The cybersecurity company also issued outlooks for the first quarter and fiscal 2025 that were at the high end of current Wall Street projections. The company's board also authorized an additional $500 million for stock repurchases. The stock was up 2.2% in premarket trading.
Boeing was falling 1.6% after the aerospace company said it would be grounding its four-plane test fleet of the 777x after finding cracks in the jet's structure. Boeing has orders for 540 of the new aircraft that it plans to start delivering in 2025, according to The Wall Street Journal, which noted it was unclear what impact the issue might have on the launch date for the long-delayed 777x. "During scheduled maintenance, we identified a component that did not perform as designed," the company said in a statement. "Our team is replacing the part and capturing any learnings from the component and will resume flight testing when ready."
Fabrinet, the contract electronics manufacturer, was rising 8.5% in premarket trading after fiscal fourth-quarter earnings and revenue topped analysts' estimates. Adjusted profit of $2.41 a share beat forecasts of $2.25.
Hawaiian Airlines jumped 10% after the Justice Department ended its review of the company's merger with Alaska Air without challenging the deal. The tie-up still needs approval from the U.S. Department of Transportation. Alaska Air shares rose slightly.
Earnings reports are expected Tuesday from Lowe's, Medtronic, Keysight Technologies, Toll Brothers, XPeng, and Jack Henry & Associates.
Shares of Lowe's, the home-improvement retailer, were down 1% ahead of the release of second-quarter earnings before the stock market opens Tuesday. Wall Street expects Lowe's to report adjusted earnings of $3.96 a share on revenue of $23.9 billion. Same-store sales are projected to fall by 4.4% year over year, which would mark the seventh consecutive quarter of declines.
Comments