Investing.com - U.S. stock index futures traded mixed on Tuesday as investors prepared for the results of the U.S. midterm elections and assessed a renewed rise in oil prices.
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By 06:17 ET (10:17 GMT), S&P 500 futures had fallen 8 points, or 0.1%, while Dow futures dropped 340 points, or 0.7%. Nasdaq 100 futures moved in the opposite direction, rising 87 points, or 0.3%. The main Wall Street averages ended Monday's session mixed.
Here's what's moving in premarket trade today
Apple shares fell about 4% in premarket trading after the iPhone maker warned that rising memory costs would weigh on gross margins, raising concerns about persistent supply-chain pressures and the expense of its artificial intelligence push.
Chief Executive John Ternus, who delivered his first earnings report since taking the role, described the memory-pricing environment as "unprecedented" and said costs were expected to rise beyond the quarter ending in December. Apple has benefited from using memory purchased at lower prices, but that advantage is expected to fade as more of its purchases are exposed to higher costs.
The company's gross margin was 47.9% in the September quarter, down from the June quarter even after accounting for the impact of tariff refunds. Apple expects gross margin of 45% to 46% for the December-ending quarter, a forecast that also reflects expenses associated with the rollout of its AI-powered Siri.
DuPont shares rose 1.2% in premarket trading after the industrial materials maker raised its annual profit forecasts and projected fourth-quarter earnings above Wall Street estimates, supported by demand in its healthcare, aerospace and industrial water markets.
The company raised its 2026 adjusted core profit outlook to nearly $1.79 billion, from a previous range of $1.75 billion to $1.77 billion. It now expects annual adjusted earnings of $7.47 to $7.52 per share, compared with its earlier forecast of $7.17 to $7.32 per share.
DuPont has been streamlining its portfolio and shifting its focus toward higher-growth markets, including semiconductors, healthcare, water technologies and aerospace. It has also been raising prices, improving productivity and reducing debt to support earnings amid weaker demand in parts of the chemicals market.
Grab Holdings surged 8.4% in premarket trading after the Southeast Asian technology group reported record third-quarter results, with all three of its core businesses — Mobility, Deliveries and Financial Services — generating positive adjusted EBITDA for the first time.
Revenue reached $1.11 billion, beating analysts' expectations of $1.05 billion and rising 27% year over year. Adjusted EBITDA increased 73% to a record $237 million.
Grab also raised its full-year adjusted EBITDA forecast to between $790 million and $800 million, from its previous range of $720 million to $740 million. The Financial Services business recorded its first-ever positive adjusted EBITDA, supported by growing adoption of loans, insurance and other financial products among drivers and merchants.
Upwork shares jumped 7.9% in premarket trading to $10.49 after the freelance-work platform reported third-quarter results that beat analyst estimates. Adjusted earnings came in at $0.40 per share, above the $0.32 consensus, while revenue of $185.6 million topped expectations of $180.25 million.
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Adjusted EBITDA reached $63.8 million, representing a 34.4% margin and exceeding the high end of the company's guidance range. Free cash flow was $53.9 million for the quarter.
Upwork also announced that its subsidiary Lifted had agreed to acquire WorkMotion, a Berlin-based employer-of-record company. Management expects the deal to help Lifted deliver gross services volume growth of more than 30% year over year in 2026.
Palantir Technologies fell 6% in premarket trading, extending losses from Monday's after-hours session, as investors focused on slowing contract growth despite a strong third-quarter earnings report.
The company reported revenue of $2.31 billion, up 96% year over year and ahead of expectations of roughly $2.18 billion. Adjusted earnings of $0.44 per share also topped the $0.41 consensus.
However, total contract value rose just 6% year over year to $2.918 billion, sharply slowing from 49% growth in the second quarter. U.S. commercial total contract value growth also decelerated, rising 11% compared with a 153% increase in the previous quarter, raising concerns about the pace of new business momentum.
Vital Farms shares dropped 11.5% in premarket trading after the pasture-raised egg producer reported a third-quarter net loss and lower revenue, while withdrawing its previously communicated 2030 financial targets.
Revenue fell 8.4% year over year to $182.2 million, while the company posted a net loss of $6.5 million, or $0.15 per diluted share. That compared with net income of $0.36 per share a year earlier and a loss of $0.13 per share expected by analysts.
Dynatrace shares tumbled 16.7% in premarket trading after the observability software provider issued a weaker-than-expected earnings outlook, overshadowing a third-quarter fiscal 2027 results beat.
The company reported adjusted earnings of $0.54 per share, above the $0.49 consensus, while revenue of $579.92 million topped estimates of $568.04 million, representing year-over-year growth of 17%.
However, Dynatrace forecast third-quarter fiscal 2027 adjusted earnings of $0.44 to $0.45 per share, below analysts' expectations of $0.48. Its full-year adjusted earnings forecast of $1.88 to $1.90 per share also fell short of the $1.91 consensus.
The company also expects its recently completed acquisition of Arize to dilute its non-GAAP operating margin by about 175 basis points in fiscal 2027, although the deal is expected to add roughly 200 basis points to annual recurring revenue growth.
Keurig Dr Pepper shares gained 1% in premarket trading after the beverage maker reported third-quarter profit and sales above Wall Street estimates, supported by steady demand for its higher-priced energy drinks and carbonated beverages in the U.S.
Volumes in its domestic refreshment beverages business, the company's largest revenue segment, rose 7.2% from a year earlier, while prices increased 3.7%. Its U.S. coffee business also returned to volume growth, with volumes rising 6.9% after declining 4% in the year-ago quarter.
The company has continued investing in higher-priced brands, including Dr Pepper Zero Sugar, Bloom Pop prebiotic soda and Ghost energy drinks, while maintaining sales momentum.
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