U.S. stock index futures eased on Tuesday ahead of data on manufacturing activity and job openings.
Market Snapshot
At 8 a.m. ET, Dow e-minis were down 31 points, or 0.09%, S&P 500 e-minis were down 5.75 points, or 0.13%, and Nasdaq 100 e-minis were up 24.5 points, or 0.16%.
Pre-Market Movers
AT&T Inc (T) – AT&T announced plans to spin off its stake in the WarnerMedia/Discovery Communications(DISCA) combination to its shareholders when that merger is completed later this year. Shareholders will receive 0.24 shares of Warner Brothers Discovery for each AT&T share they now own. AT&T also said it would pay an annual dividend of $1.11 per share after the deal is complete, compared to the current $2.08. AT&T fell 3.5% in the premarket.
AMC Entertainment (AMC) – The movie theater operator’s stock rallied 12% in the premarket after announcing better than expected preliminary results for the fourth quarter. AMC said its results improved as 2021 progressed and that the quarter was its strongest in two years.
United Parcel Service Inc (UPS) – UPS shares surged 7.4% in the premarket after beating estimates with its quarterly results, issuing upbeat guidance and announcing a 49% dividend increase. UPS earned an adjusted $3.59 per share for the fourth quarter, compared to a consensus estimate of $3.10. Following the upbeat UPS results, rival Fedex (FDX) added 2.5% in the premarket.
Exxon Mobil (XOM) – The energy giant earned $2.05 per share for the fourth quarter, beating the $1.93 consensus estimate, though revenue fell below Wall Street forecasts. Exxon gained 1.3% in the premarket.
Sirius XM (SIRI) – The satellite radio and streaming audio service beat estimates by a penny a share, with quarterly earnings of 8 cents per share. Revenue came in above forecasts as well. Sirius XM announced a special dividend of 25 cents per share, and the stock rose 1% in premarket trading.
UBS Group AG (UBS) – UBS shares jumped 6.2% in premarket trading after the Zurich-based bank reported its best annual profit since 2006 and announced plans to increase its dividend as well its boost its share buyback program.
Cirrus Logic (CRUS) – Cirrus Logic reported adjusted quarterly earnings of $2.54 per share, 40 cents above estimates, with the semiconductor company’s revenue above estimates as well. Cirrus also issued stronger than expected current-quarter revenue guidance, but the shares slid 4.1% in the premarket.
New York Times (NYT) – The newspaper publisher announced a deal to buy the popular daily word game Wordle for an unspecified amount that the paper said is “in the low seven figures.” The Times will eventually move the game to its website and apps. New York Times fell 1.3% in premarket trading.
Pfizer (PFE),BioNTech SE (BNTX) – The drugmakers may file as soon as today for permission to use their Covid-19 vaccine for children under the age of 5, according to people familiar with the discussions who spoke to The New York Times. Emergency use authorization could come as soon as the end of February. BioNTech added 3.6% in the premarket while Pfizer was little changed.
Sanmina (SANM) – Sanmina jumped 4.7% in premarket action after the diversified manufacturer reported better-than-expected quarterly earnings and issued an upbeat current-quarter forecast. Sanmina saw growth across a variety of segments, including industrial, medical, defense and automotive.
Market News
India's finance minister on Tuesday said the central bank will introduce a digital currency in the next financial year using blockchain and other supporting technology.
The United States anti-trust review of Microsoft's proposed US$69 billion (S$93.2 billion) acquisition of Activision Blizzard will be handled by the Federal Trade Commission (FTC), according to a person familiar with the matter, putting the deal in the hands of an agency that has vowed more aggressive policing of deals.
Nomura Holdings Inc, Japan's biggest brokerage and investment bank, reported on Tuesday a 38.7% drop in third-quarter net profit as the pandemic-era trading boom waned.
NIO delivered 9,652 vehicles in January 2022, representing an increase of 33.6% year-over-year. The deliveries consisted of 1,531 ES8s, the Company’s six- or seven-seater flagship premium smart electric SUV, 5,247 ES6s, the Company’s five-seater high-performance premium smart electric SUV, and 2,874 EC6s, the Company’s five-seater premium smart electric coupe SUV. As of January 31, 2022, cumulative deliveries of the ES8, ES6 and EC6 reached 176,722 vehicles.
Li Auto delivered 12,268 Li ONEs in January 2022, representing an increase of 128.1% Y/Y, but down 12.9% from December 2021 deliveries of 14,087 units.
XPeng maintains strong momentum with monthly deliveries in January 2022 of 12,922 Smart EVs, representing an increase of 115% Y/Y, demonstrating the Company’s solid business momentum and execution capability and exceeding the monthly delivery benchmark of 10,000 units for the fifth consecutive month.