Investing.com -- US stock futures edged lower Tuesday, as investors digested China’s retaliation with tariffs against the US as well as more corporate earnings.
Here are some of the biggest premarket US stock movers today:
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PepsiCo (NASDAQ:PEP) stock fell 2% after the soft drinks giant reported tepid organic revenue growth as price hikes weighed on demand from cost-conscious U.S. shoppers.
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Spotify (NYSE:SPOT) stock surged 8.3% after the music streaming company reported fourth-quarter 2024 results that exceeded revenue expectations while also providing upbeat guidance.
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Palantir (NASDAQ:PLTR) stock soared 21% after the data analytics company forecast upbeat annual revenue fueled by strong demand for its software and data analytics services from businesses racing to adopt generative AI.
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Pfizer (NYSE:PFE) stock rose 1.9% after the drugmaker beat fourth-quarter profit estimates, helped by strong sales of its heart disease drug and a smaller-than-feared drop in COVID vaccine sales.
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PayPal (NASDAQ:PYPL) stock slumped 5.4% after the digital payments giant forecast full-year profit above estimates, fueled by a push to revive growth in branded products, improve pricing and sharpen cost-cutting efforts.
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Estee Lauder (NYSE:EL) stock fell 7.2% after the cosmetic giant issued a fiscal third-quarter outlook that missed expectations, with the company citing weak retail sales trends in its Asia travel retail business.
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Merck (NSE:PROR) stock fell 7.6% after the drugmaker said it will pause shipments of Gardasil to China through at least mid-year, as continued weak demand for the HPV vaccine there is expected to hurt 2025 revenue. This overshadowed a strong fourth-quarter profit on sales of cancer drug Keytruda.
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Regeneron (NASDAQ:REGN) stock rose 2% after the biotechnological company reported fourth-quarter earnings and revenue that exceeded expectations, helped by growth at its flagship eye drug franchise.
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Ferrari (NYSE:RACE) stock rose 3.5% after the luxury sports car manufacturer reported strong fourth-quarter earnings, with CEO Benedetto Vigna citing “a strong product mix and a growing demand for personalizations.”
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Marathon Petroleum (NYSE:MPC) stock rose 1.4% after the refiner beat fourth-quarter profit estimates, as strength in its midstream and renewable diesel segment helped offset a slump in refining margins.