Stock futures pointed to a mostly weaker open Tuesday after equities closed lower Monday, pausing Wall Street’s rally in November.
These stocks were poised to make moves Tuesday:
Zscaler
reported fiscal first-quarter adjusted earnings, revenue, and calculated billings that beat analysts’ expectations and the cybersecurity company issued a forecast for the second quarter that also topped estimates.
Zscaler
shares, however, were falling 6.6% in premarket trading as the company maintained its fiscal-year forecast for calculated billings at $2.52 billion to $2.56 billion versus estimates of $2.54 billion. Competitor
CrowdStrike Holdings,
which is scheduled to report earnings after the closing bell Tuesday, was down 1.1%.
Earnings reports are also expected Tuesday from
Intuit,
Workday,
Splunk,
Hewlett Packard Enterprise,
NetApp,
and
PDD Holdings.
Acelyrin
disclosed there was a programming error in a drug trial of izokibep, a treatment for psoriatic arthritis.
Acelyrin
said the protocol was programmed incorrectly by a vendor, “resulting in a sequencing error that went further unidentified through the providers’ testing processes.” The company said it has addressed the programming error. Shares of the biopharmaceutical company fell 8.2% in after-hours trading Monday.
Boeing
was upgraded to Outperform from Sector Perform at RBC Capital and the price target on shares of the airplane maker were raised to $275 from $200. “After another year of supply-chain disruptions and lowered expectations, we believe the set-up into 2024 is favorable,” the analysts said in a research note. The stock was rising 1.7% to $223.10.
iRobot
was rising 1.8% in premarket trading after tumbling 17% on Monday following a “statement of objections” from the European Commission to the Roomba vacuum cleaner company’s pending deal to be acquired by
Amazon.com.
The EC said it was concerned the acquisition could restrict competition in the European market for robotic vacuum cleaners.
Write to Joe Woelfel at joseph.woelfel@barrons.com
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