U.S. equity futures extended gains Tuesday as earnings continue to power market performance in the face of surging energy prices and inflation prospects.
Here are some of the top movers ahead of the opening bell on Tuesday.
1. United Parcel Service UPS | Up 4.3%
Shares of United Parcel Service (UPS) – Get United Parcel Service, Inc. Class B Report jumped after the package delivery giant posted better-than-expected third-quarter earnings. E-commerce-related package deliveries continue to be a driving force behind the economy’s rebound.
2. Coinbase COIN | Up 1.9%
Shares of Coinbase (COIN) edged higher after analysts at Citi initiated coverage of the crypto exchange with a buy rating and indicated 27% upside potential for the stock.
3. Lockheed Martin LMT | Down 7.8%
Shares of Lockheed Martin (LMT) – Get Lockheed Martin Corporation (LMT) Report dropped after the aerospace-and-defense major posted better-than-expected third-quarter earnings but sales that fell short of forecasts. Revenue fell in its aeronautics division due to a decline in F-35 jet sales.
4. General Electric GE | Up 1.2%
Shares of General Electric (GE) – Get General Electric Company (GE) Report advanced after the industrial group beat Wall Street forecasts for earnings per share and said orders rose 42%.
GE said the biggest supply-chain hit came in its health-care division. The company expects disruptions to last through at least the first half of next year, alongside a more challenging inflationary environment.
5. Alphabet GOOGL | Up 1.5%
Shares of Alphabet (GOOGL) – Get Alphabet Inc. Class A Report rose. The search, cloud and advertising giant is set to report earnings after the closing bell. Shares of social-media company Twitter (TWTR) – Get Twitter, Inc. Report, which also reports earnings after the bell Tuesday, were 1.2% higher.
