Equity futures fell Tuesday as the earnings season kicks into another gear with reports from mega-cap tech companies and investors awaiting the Federal Reserve’s stimulus outlook.
Here are some of the big movers in the stock market on Tuesday:
1. Tesla | up 1.36%
Tesla (TSLA) – Get Report shares rose after the electric vehicle maker posted stronger-than-expected second-quarter results and said it was on track to build the first Model Y sedans before the end of the year from new facilities in Austin, Texas and Berlin.
2. General Electric | up 4.18%
Shares of General Electric (TO GIVE) – Get Report rose after the industrial company delivered better-than-expected second-quarter results and raised its industry free cash flow forecast to between $3.5 billion and $5 billion.
Revenue rose 9% to $18.3 billion.
3. Alibaba Group | 3% down
Alibaba (BABA) – Get Report and other shares of Chinese tech companies collapsed amid an ongoing sell-off, spurred by China’s increasing crackdown on Internet companies whose shares are listed in the US and other markets outside of China.
4. Lucide Group | Up 1.01%
Shares of luxury electric vehicle start-up Lucid Motors (LCID) – Get Report climbed a day after the electric vehicle company made its Nasdaq debut.
The listing follows the Good Friday of the merger between special purpose acquisition company Churchill Capital (CCIV) – Get Report, a blank check company founded by investment banker Michael Klein.
5. 3M | Up to 0.72%
3M (MMM) – Get Report shares rose after the conglomerate delivered stronger-than-expected second-quarter results and lifted its full-year earnings forecast as sales in healthcare and manufacturing added gains to its sales and profits.
Sales rose 24% to $8.9 billion.