Stock futures were rising Tuesday as Wall Street returned from a long weekend and traders looked ahead to inflation data at the end of the week.
jumped 21% after the videogame retailer on Friday said it completed an equity offering of 45 million shares for proceeds of about $933.4 million.
said proceeds would be used for general corporate purposes, “which may include acquisitions and
investments.” The at-the-market offering was disclosed in a filing May 17.
was up 2.5%. Shares of the chip maker were getting a boost from an announcement by Elon Musk that his xAI start-up raised $6 billion in its latest round of fundraising. It’s expected that much of the newly raised cash should be spent on
Nvidia
’s
hardware.
was rising 2.3% after Bloomberg, citing figures from the China Academy of Information and Communications Technology, reported that iPhone shipments in China rose 52% from a year earlier.
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was falling 6.7% after reports said Illinois senators approved a 2025 budget that includes raising the state’s sports betting tax. The legislation would make Illinois the second-most expensive state for wagering operators to do business in, according to iGamingBusiness.com. Flutter Entertainment, the parent company of FanDuel, declined 4.1%.
Earnings reports are expected Tuesday from
Heico
,
and
Box
.
Cava, the Mediterranean restaurant chain, was rising 4.8% in premarket trading ahead of quarterly earnings expected after the closing bell Tuesday.
Reports are expected later in the week from
HP Inc.
,
Nutanix
,
Okta
,
UiPath
,
Chewy
,
C3.ai
,
MongoDB
,
Zscaler
,
Best Buy
,
Gap
,
and
NetApp
.
Shares of
were up 1.4% to $82.28 in premarket trading after analysts at Citi raised their recommendation on the stock to Buy from Neutral and increased their price target to $95 from $85 following plans by the chemicals company to break into three parts. Last week,
upgraded DuPont stock to Buy from Hold, with analyst Michael Sison saying
DuPont
’s
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separation plan was a “bold move to drive [valuation] multiple expansion.”
Write to Joe Woelfel at joseph.woelfel@barrons.com