Stock futures remained lower on Tuesday after durable goods orders declined in September.
S&P 500 futures were down 0.17%, Dow Jones Industrial Average futures fell 0.13%, and Nasdaq futures declined 0.14%.
Durable goods orders in September fell 1.2%, the second consecutive monthly drop, according to the Commerce Department. The drop was smaller than an expected 2.3% decline. The reading is the last piece of data to be digested before the first third-quarter growth estimate is released on Thursday. Economists expect third-quarter GDP to drop to 1.6% after a final second-quarter reading of 3.9%.
Comcast (CMCSA) - Get Report shares were slightly lower in premarket trading despite an in-line third quarter. The cable company earned 80 cents a share over the quarter, while revenue jumped 11% to $18.67 billion.
Ford (F) - Get Report dropped more than 2% after quarterly net income missed estimates. The automaker reported earnings of 45 cents a share, 2 cents below expectations. Revenue of $38.1 billion beat forecasts by $3 billion.
Alibaba (BABA) - Get Report shares surged 10% after a better-than-expected quarter. The Chinese e-commerce company reported a 28% increase in gross merchandise volume to $112 billion, with revenue through its mobile platform up 183%. The number of mobile monthly users jumped 59% to 346 million.
Pfizer (PFE) - Get Report posted adjusted third-quarter earnings of 60 cents a share, which was above analysts' estimates. The drug giant raised its outlook a second time for full-year profit and revenue. The stock rose 2.5% in premarket trading.
Broadcom shares climbed after a better-than-expected quarter. The chipmaker earned 77 cents a share in its third quarter, 4 cents above estimates. Revenue fell 3.2% to $2.19 billion, though met expectations. Broadcom is currently in the process of being acquired by Avago Technologies (AVGO) - Get Report with the deal expected to be completed by the first quarter.
Integrated Device Technology (IDTI) - Get Report agreed to acquire privately held ZMDI for $310 million. The all-cash deal is expected to close this year and will likely be accretive to earnings in the first full quarter following its completion. IDT shares added more than 2%.
IAC/InterActive (IACI) surged 11% in premarket trading after blasting past quarterly earnings estimates. The online media company earned 74 cents a share in its recent quarter, above expectations of 50 cents. Sales of $839 million beat forecasts of $805 million.
Rent-a-Center (RCII) - Get Report slumped more than 16% after guiding for below-consensus estimates in its fourth quarter. The company expects quarterly earnings no higher than 62 cents a share, below forecasts of 68 cents.
The Federal Reserve begins a two-day meeting on Tuesday. While the central bank isn't expected to raise interest rates at the October meeting, Wall Street will be listening for clues about the possibility of a rate hike when the Fed meets again in December.