Honeywell and Super Micro Computer Rise in Premarket; PepsiCo Declines

US stock futures saw an uptick on Tuesday, rebounding after losses from the previous session in anticipation of comments from several Federal Reserve speakers.

Here are some notable premarket stock movements in the US today:

• Honeywell stock increased by 3% following reports that the conglomerate plans to spin off its Advanced Materials division.

• Alphabet shares rose by 0.3%, despite a US judge ordering its Google unit to adjust the Android operating system, allowing competitors to create their own app marketplaces and payment systems. This is seen as a setback for the company in its antitrust defenses.

• PepsiCo shares declined by 1.2% after the beverage giant reported third-quarter earnings that exceeded analyst expectations, although its revenue fell short of estimates due to weaker performance in North America and disruptions in international markets.

• Super Micro Computer stock climbed by 3.8%, building on recent gains after the server manufacturer noted a significant rise in shipments of graphics processing units, attributed to the increasing demand for artificial intelligence technologies.

• Alibaba shares dropped by 7.9%, while JD stock fell by 10% and Bilibili shares plummeted by 15%. The declines came as optimism surrounding China’s stimulus efforts diminished, which negatively impacted US-listed Chinese firms.

• Qualcomm shares fell by 1.3% after the chipmaker released a security advisory regarding vulnerabilities in its products.

• DocuSign stock rose by 5.5% after S&P Dow Jones Indices announced that the e-signature company would join the S&P Midcap 400 Index ahead of trading on October 11.

• Affirm Holdings stock gained 4.6% following an upgrade by BTIG from ‘neutral’ to ‘buy,’ while American Express shares fell by 0.7% after BTIG downgraded its rating from ‘neutral’ to ‘sell.’

• Otis Worldwide shares decreased by 3.5% after Wolfe Research downgraded its rating on the elevator manufacturer from ‘outperform’ to ‘peer perform,’ citing a balanced risk/reward scenario following prior gains related to Chinese stimulus measures.

• Sage Therapeutics stock plummeted by 13% after the biopharmaceutical company announced disappointing topline results from its investigational treatment for mild cognitive impairment and mild dementia associated with Alzheimer’s disease.