Stock futures on Tuesday pointed to a mixed start for Wall Street as traders navigated the uncertainty about how the fast-spreading delta virus variant will affect the economy and comments from Federal Reserve officials about scaling back support.
Here are some of the top movers during premarket trading on Tuesday:
1. AMC Entertainment | Up 7%
AMC Entertainment (AMC) - Get AMC Entertainment Holdings, Inc. Class A Report shares surged after the movie theater chain posted a narrower-than-expected second-quarter loss and hinted at a possible partnership with fellow meme stock GameStop (GME) - Get GameStop Corp. Class A Report. Revenue rebounded from a year earlier to $444.7 million as the pandemic eased and theaters reopened.
2. SmileDirectClub | Down 16%
Shares of SmileDirectClub (SDC) - Get SmileDirectClub Inc Class A Report tumbled after the oral-care company missed Wall Street's second-quarter expectations due to an April cyberattack and the lasting economic effects of the COVID-19 pandemic on its target demographic. The company posted a loss of 14 cents a share on revenue of $174 million.
3. 3D Systems | Up 12%
3D Systems (DDD) - Get 3D Systems Corporation Report shares jumped after the 3D-printing company posted second-quarter earnings and sales that topped analysts' forecasts. Demand for its printers and printing materials in the healthcare and industrial sectors was strong. For 2021, 3D Systems said it expected gross-profit margins of between 40% and 44%.
4. Kansas City Southern | Up 6.6%
Shares of Kansas City Southern (KSU) - Get Kansas City Southern (KSU) Report climbed after a report said Canadian Pacific (CP) - Get Canadian Pacific Railway Limited Report was preparing to offer $300 a share for the company, reigniting a battle with rival Canadian National (CNI) - Get Canadian National Railway Company Report for the U.S. rail operator. Canadian Pacific’s board met Monday to approve the offer, which values Kansas City Southern at about $27 billion, The Wall Street Journal reported.
5. Moderna | Down 0.1%
Moderna (MRNA) - Get Moderna, Inc. Report shares wavered following reports that the drugmaker's coronavirus vaccine scored a higher efficacy rate against Delta variants than that of its main Pfizer (PFE) - Get Pfizer Inc. Report-made rival. Moderna said that studies indicate its vaccine remained close to its original 94% efficacy rate some six months after the second dose. But the company added that booster shots for the winter flu season might still be necessary.