Stock futures tank after inflation rose more than expected in August.
Here are 4 tickers trending on Yahoo Finance in premarket trading:
Peloton Interactive, Inc. (PTON): Shares of the home fitness firm moved lower in premarket trading after news that co-founders John Foley and Hisao Kushi are stepping down from their executive roles. The shakeup comes as the exercise equipment company is undergoing massive changes to trim losses and turn things around. Foley had stepped down from his role as CEO earlier this year and become the executive chairman. Barry McCarthy succeeded Foley as the chief executive in February, while the company announced layoffs, price hikes, and other new initiatives to cut more costs. Peloton stock is down 69% so far in 2022.
NIO Inc. (NIO): Shares of Chinese EV maker NIO are lower in premarket trading following Deutsche Bank’s Edison Yu comments that reiterated a Buy rating on NIO Monday alongside a $39 price target. This comes after the company posted a mixed earnings report last week. Nio is set to begin producing the ET5, its third new EV of 2022, in late September. It launched the full-size ET7 sedan in March. The ES7, a new electric SUV, hit the market in August.
Oracle Corporation (ORCL): Shares of Oracle moved higher in premarket trading as the software company posted quarterly sales that rose 18% while profits fell short of estimates. Sales were $11.4 billion in the fiscal first quarter, meeting analysts estimates, per data compiled by Bloomberg. Adjusted profits, excluding some items, was $1.03 a share, below the company’s guidance. Cloud Revenue rose 45% to $3.6 billion.
Apple Inc. (AAPL): Shares of Apple moved higher on Tuesday in premarket trading as two analysts made positive comments that pre-orders for the newest iPhone models were looking good. Wedbush analyst Daniel Ives and Bank of America analyst Wamsi Mohan are bullish on the stock, both assessing that pre-order demand for the latest Apple smartphones is promising. On Monday, Apple released its next-generation mobile software, iOS 16, with new features that allow users to personalize their iPhone lock screens and change how they text friends through iMessage. Apple stock is down around 8% so far in 2022.
Dani Romero is a reporter for Yahoo Finance. Follow her on Twitter @daniromerotv