Premarket witness U.S. futures nudged up Tuesday, as investors maintained a positive tone ahead of the publication of important inflation data later this week.
Top Gainers
Krispy Kreme (NASDAQ:DNUT) shares jumped 21% after the donut business revealed that its product would be available at McDonald’s (NYSE:MCD) stores across the country by the end of 2026.
Viking Therapeutics (NASDAQ:VKTX) shares increased 17% after the pharmaceutical firm reported good Phase 1 findings for its obesity treatment.
Reddit (NYSE:RDDT) shares surged 10%, extending the recent advances after the social media platform’s impressive market debut, with the announcement of options assisting.
McCormick (NYSE:MKC) shares increased 5.8% after the seasonings producer exceeded market estimates for first-quarter sales and earnings, as customer demand for its high-priced spices remained strong despite persistent inflation.
United Parcel Service (NYSE:UPS) shares increased 3.4% after the transportation company anticipated higher-than-expected consolidated revenue in 2026, as it seeks to aggressively cut costs and gain market share.
Tesla (NASDAQ:TSLA) shares jumped 3.1% after CEO Elon Musk said that the electric automaker will give a month-long free trial of its driver-assist technology, Full Self-Driving, in the United States.
Nvidia (NASDAQ:NVDA) jumped 1%, closing in on a record high achieved earlier in March; Micron Technology (NASDAQ:MU) rose more than 2%, on track to establish a new record high; and Super Micro Computer (NASDAQ:SMCI) rose 3.6% amid optimism about the AI-inspired rally.
Boeing (NYSE:BA) shares increased 0.6%, building on Monday’s gains, as the aircraft manufacturer announced a number of management changes, including the retirement of CEO Dave Calhoun.
Ford’s (NYSE:F) shares climbed 0.4% as the automaker confirmed its 2017 core profit forecast of $10 billion to $12 billion, amid challenging underlying economic conditions.
Top losers
Stocks in focus
Viking Therapeutics (VKTX) shares surged nearly 15% after a trial showing its oral once-daily obesity therapy, VK2734, caused up to 5% weight loss with a favorable safety profile. The therapy, a dual GLP-1 and GIP agonist, led to dose-dependent reductions in body weight. The study results come amid rising demand for weight loss drugs, benefiting companies like Novo Nordisk and Eli Lilly.
GameStop (GME) is set to announce Q4 2023 results, with Wall Street expecting a 30 cents per share earnings on $2.05B revenue. Despite an 8% lower Y/Y top line figure, this improvement is still better than Q3’s 9.1% decrease. Industry trends suggest a top-line beat for GME, with profitability benefiting from higher-margin software and cost discipline.
Alibaba (BABA), a US-listed company, has scrapped plans for an initial public offering in Hong Kong for its Cainiao Smart Logistics Network. The move aims to align the business with Taobao, Tmall, and Alibaba International Digital Commerce Group, and support Cainiao’s global logistics network expansion.
Boeing stock rose 1.4% after a 1.4% rise. The company announced that CEO Dave Calhoun will step down at the end of the year due to quality and regulatory issues caused by a January incident. Industry executives and analysts predict that Calhoun will be replaced by an outsider.
Must read book about investing – check here Baidu’s shares rose over 4% in pre-market trading after Apple reported preliminary talks with the Chinese internet giant to use its AI technology in its devices. Apple is exploring using external partners to accelerate its AI goals. Baidu released five new versions of its AI model Ernie and an enhanced development toolkit for enterprisesPremarket Winners and Losers Premarket Winners and LosersPremarket Winners Premarket Winners PPremarket Winnersremarket Winners Premarket Winners Premarket Winners Premarket Winners
3M (MMM) rose over 7% pre-market. The industrial conglomerate’s appointment of former L3Harris Technologies (LHX) CEO William Brown as its new CEO, starting May 1, appeared to please investors. Brown will succeed Michael Roman as 3M’s (MMM) executive chairman. Brown was Harris Corp’s CEO before its 2019 merger with L3 Technologies. After becoming CEO of the merged firm, he was executive chair from June 2019 until June 2022. Roman was 3M’s (MMM) CEO since July 2018.