Premarket Movers Tuesday - Kansas City Southern, IBM, Nike

Stocks moving in premarket trading Tuesday include Kansas City Southern, IBM, United Airlines, Altria and Nike.
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Stock futures declined Tuesday as Wall Street looked to corporate earnings for indications on the strength of the post-pandemic recovery.

Johnson & Johnson  (JNJ) - Get Report and Netflix  report earnings Tuesday.

Dow Futures Fall as COVID Surge Clouds US Earnings; Apple Launch in Focus

Here are some of the top movers during premarket trading Tuesday.

1. Kansas City Southern KSU | Up 16%

Shares of Kansas City Southern  (KSU) - Get Report jumped after The Wall Street Journal reported that Canadian National made a roughly $30 billion bid for the railroad operator. CN swooped in to top an agreed takeover by rival Canadian Pacific,  (CP) - Get Report likely kicking off a bidding war. 

2. International Business Machines IBM | Up 3.1%

Shares of International Business Machines  (IBM) - Get Report advanced after the tech firm posted higher revenue ahead of a landmark split of the business this year.

IBM's total cloud revenue for the first quarter jumped 21% year-over-year to $6.5 billion.

"Strong performance this quarter in cloud, driven by increasing client adoption of our hybrid cloud platform, and growth in software and consulting enabled us to get off to a solid start for the year," said Chief Executive Arvind Krishna.

3. United Airlines UAL | Down 3.2%

Shares of United Airlines  (UAL) - Get Report slipped after the Chicago airline reported a net loss of $1.36 billion for the first quarter.

Revenue for the quarter came in slightly below estimates, amid higher fuel costs and low demand for air travel due to the coronavirus pandemic.

4. Altria Group MO | Down 3.1%

Shares of Altria Group  (MO) - Get Report fell after the Biden administration said Monday that it was contemplating lowering nicotine content in cigarettes.

5. Nike NKE | Down 1.7%

Shares of Nike  (NKE) - Get Report dropped after Citigroup  (C) - Get Report downgraded the athletic apparel retailer's stock, citing a potential slowdown in China.