FCEL FuelCell Energy Inc

U.S. index futures maintain stability in Tuesday’s pre-market, on a day with few scheduled economic events.

As of 05:28 AM, the futures of the Dow Jones (DOWI:DJI) rose 17 points, or 0.05%. The futures of the S&P 500 rose 0.06% and the futures of the Nasdaq-100 rose 0.03%. The yield rate of 10-year Treasury bonds was at 3.907%.

In the commodities market, West Texas Intermediate crude oil for January fell 0.37%, to $72.20 per barrel. Brent crude oil for February fell 0.31%, near $77.71 per barrel. Iron ore with a concentration grade of 62%, traded on the Dalian exchange, fell 0.11%, to $130.25 per ton.

On Tuesday’s economic agenda, investors await speeches from the president of the Federal Reserve of Atlanta, Raphael Bostic, and data on the start of construction in November.

European markets are recording gains, reversing the negative trend observed in the previous session’s negotiations. Investors are attentive to inflation in the Eurozone, with the LSEG consensus indicating a monthly reduction of 0.5%, although there remains an annual increase of 2.4%. Additionally, today there will be an important meeting of the finance ministers and central bank governors of the Group of Seven countries, on the day’s agenda.

Most Asian markets closed higher, with the highlight being Japan’s Nikkei index, which rose 1.41% after the Bank of Japan kept its base rate unchanged at its last meeting of the year. The central bank also maintained its policy of negative interest rates and signaled “extremely high uncertainties” in the Japanese economy, forecasting inflation above 2% during the fiscal year 2024. Other indices showed modest variations: Shanghai SE (China) +0.05%, Kospi (South Korea) +0.07% and ASX 200 (Australia) +0.84%, while the Hang Seng (Hong Kong) fell -0.75%.

At Monday’s close, the Nasdaq and the S&P 500 advanced, while the Dow Jones ended stable. The Dow Jones gained 0.86 points, standing at 37,306.02. The S&P 500 rose 0.45% to 14,904.81 points, and the Nasdaq increased 0.61% to 4,740.56 points. The indices have benefited from optimism about interest rates, but there have been divergences over future cuts. U.S. Steel (NYSE:X) led the steel sector with a 26.1% increase following an acquisition agreement. The Dow Jones retail index rose 1.6%, while housing and banking stocks retreated.

On Tuesday’s corporate earnings front, investors will be watching reports from Accenture (NYSE:ACN), FuelCellEnergy (NASDAQ:FCEL), FactSet (NYSE:FDS), and others, before the market opens. After the close, reports from FedEx (NYSE:FDX), Steelcase (NYSE:SCS), Worthington (NYSE:WOR), Shimmick (NASDAQ:SHIM), Know Labs (AMEX:KNW), among others, will be awaited.

Apple (NASDAQ:AAPL) – Apple is suspending sales in the U.S. of its Series 9 and Ultra 2 smartwatches due to a patent dispute with Masimo (NASDAQ:MASI). The U.S. International Trade Commission (ITC) threatened to ban the import of Apple Watches. The decision is pending presidential approval and could come into effect on December 26. Apple is working on software fixes to resolve the issue but may need to make hardware changes. In other news, Wedbush analyst Dan Ives predicts that Apple will reach a market capitalization of $4 trillion by the end of 2024, driven by solid performance in China. Ives stated that concerns about Chinese government bans on the iPhone are manageable and have not harmed demand in the region.

Alphabet (NASDAQ:GOOGL) – The parent company of search giant Google agreed to pay out $700 million and implement some changes in its app store in a settlement with a group of states alleging that Google was operating its app store, Google Play, in a monopolistic and illegal manner.

Microsoft (NASDAQ:MSFT) – TomTom has partnered with Microsoft to create an AI-based conversational assistant for vehicles, allowing users to interact naturally with their cars, including location search and vehicle control. TomTom utilized Microsoft’s Azure OpenAI service to develop the assistant, which can be integrated into automotive infotainment systems and TomTom’s Digital Cockpit.

Sony (NYSE:SONY) – Sony Group Corp is willing to listen to proposals from Zee Entertainment Enterprises Ltd. to salvage the merger plan between the two companies, after difficulties in meeting the closing deadline of December 21. The negotiations have faced stumbling blocks, including disagreements over the leadership of the new entity resulting from the merger. Zee wants its CEO, Punit Goenka, to lead the new company, while Sony is concerned due to a regulatory investigation against Goenka.

Adobe (NASDAQ:ADBE) – Adobe has abandoned its $20 billion deal to acquire design platform Figma due to antitrust concerns in Europe and the United Kingdom. Adobe will pay a termination fee of $1 billion. The termination reflects stricter scrutiny of mergers and acquisitions. The merger’s failure leaves Adobe with about $6 billion in cash, likely to be used to boost AI development and buy back shares. The company may also focus on AI capabilities and its online Express platform to attract new users. However, competition from companies like Canva and Figma continues to be a concern for Adobe, despite recent success. The future of Adobe’s XD product design app is unclear.

Coupang (NYSE:CPNG), Farfetch (NYSE:FTCH) – Coupang, an e-commerce giant, plans to acquire struggling luxury fashion company Farfetch in a deal that will provide Farfetch with $500 million in capital. Farfetch has struggled with a slowdown in the luxury sector, while Coupang seeks to expand its presence in South Korea. Investment firm Greenoaks is also involved in the deal.

Amazon (NASDAQ:AMZN) – Amazon is in talks to invest in regional sports programmer Diamond Sports Group, seeking a multi-year streaming partnership. If the deal goes through, Amazon’s Prime Video platform could broadcast Diamond’s games.

Disney (NYSE:DIS) – The Shanghai Disney Resort will open a Zootopia-themed attraction, capitalizing on post-pandemic travel and experience desires in China. Zootopia is a highly successful animated film in China, and this is the first Disney-themed attraction based on it at the Shanghai resort.

Comcast (NASDAQ:CMCSA) – Comcast’s Xfinity reported unauthorized access to its internal system between October 16 and 19. Customer information, including usernames, hashed passwords, and contact details, was potentially compromised due to a vulnerability in Citrix software (NASDAQ:CTXS), which has been resolved.

Taiwan Semiconductor Manufacturing (NYSE:TSM) – Mark Liu, chairman of TSMC, will retire after the annual shareholders’ meeting in June. The current CEO, C.C. Wei, is expected to take over as chairman, subject to election by the new board in June. Liu joined TSMC in 1993 and became chairman in 2018, following the retirement of founder Morris Chang.

U.S. Steel (NYSE:X) – Nippon Steel (USOTC:NPSCY) announced on Monday that it is acquiring U.S. Steel for $14.9 billion, outbidding rivals. The transaction aims to expand production in the U.S. and take advantage of tax incentives. U.S. Steel will be a significant addition to Nippon, increasing its global steel capacity and presence in the U.S. The acquisition faces growing opposition in Washington, citing national security concerns and jobs. Regulatory and political review may impact the deal.

Livent (NYSE:LTHM) – Investors of Australian lithium producer Allkem (ASX:AKE) approved a $10.6 billion merger offer from American giant Livent, creating one of the world’s largest lithium companies. The new company, named Arcadium Lithium, will have a global presence in major producing regions and operate across the lithium supply chain.

Alcoa (NYSE:AA) – Alcoa expects to benefit from production costs related to two smelting facilities in the U.S. due to a manufacturing-related tax credit, resulting in a post-tax cost of goods sold benefit of $35 to $40 million in the fourth quarter. The company also anticipates a provision for valuation of some deferred tax assets in Brazil, resulting in a tax expense of $140 to $150 million in the fourth quarter.

Archer-Daniels-Midland (NYSE:ADM) – Archer-Daniels-Midland plans to acquire Revela Foods, a Wisconsin-based manufacturer of dairy flavor ingredients and solutions, to strengthen its flavor portfolio. Revela Foods projects sales of about $240 million in 2023, contributing to ADM’s global dairy flavors segment worth $1.8 billion.

SunPower (NASDAQ:SPWR) – SunPower raised concerns about its continuity due to a key term violation in a credit agreement, which could lead creditors to demand immediate repayment of $65.3 million in debts. The company is in talks with creditors for a waiver.

Enphase Energy (NASDAQ:ENPH) – Enphase Energy plans to lay off 10% of its workforce, facing a challenging macroeconomic environment in the alternative energy industry. The restructuring will result in charges of about $16 to $18 million.

FuelCell (NASDAQ:FCEL), Exxon Mobil (NYSE:XOM) – FuelCell Energy announced on Monday a partnership with Exxon Mobil to test carbonate fuel cell technology aimed at reducing CO2 emissions at a pilot plant in Rotterdam.

Illumina (NASDAQ:ILMN) – Activist investor Carl Icahn plans to oust directors of Illumina, following months of disagreement over the company’s acquisition of genetic sequencing firm Grail. Icahn blamed the Grail purchase for a 75% drop in Illumina’s shares and seeks to remove legacy directors in conflict with the company’s legacy.

Bluebird Bio (NASDAQ:BLUE) – Bluebird’s shares were down 14.8% in Tuesday’s pre-market after the biotech company revealed plans for a $150 million public offering of common stock.

Wyndham Hotels & Resorts (NYSE:WH), Choice Hotels (NYSE:CHH) – Wyndham Hotels & Resorts urged its shareholders to reject Choice Hotels’ hostile takeover bid, citing lower valuation concerns, regulatory risks, and franchisee dissatisfaction. Wyndham believes its current business plan offers more long-term shareholder value.

Bank of America (NYSE:BAC) – BofA Global Research forecasts that the U.S. Federal Reserve will make four 25 basis-point cuts in interest rates in 2024, starting in March. BofA also raised its U.S. economic growth forecast for next year due to stronger consumer spending. Additionally, Bank of America is seeing a reduction in unrealized bond losses, falling to about $100 billion, while JPMorgan Chase (NYSE:JPM) saw losses decrease to about $30 billion to $35 billion due to bond market recovery.

UBS (NYSE:UBS) – UBS saw a 2.5% increase in Tuesday’s pre-market following news that activist investor Cevian Capital acquired a 1.3% stake in the large Swiss banking institution. Cevian spent $1.31 billion for this stake, claiming it identifies considerable value potential in UBS, especially following the acquisition of rival Credit Suisse.

Tesla (NASDAQ:TSLA) – Tesla plans to raise the wages of most hourly workers at its Nevada factory, with increases of about 10%, raising minimum wages from $20 to $22 per hour and maximum wages from $30.65 to $34.50 per hour, starting in January. These raises may be part of an effort to deter union support at the facility.

Nikola (NASDAQ:NKLA) – Nikola founder Trevor Milton was sentenced to four years in prison for fraud. He misled investors by falsely claiming technological advancements in electric and hydrogen trucks. Prosecutors sought 11 years in prison, comparing him to Elizabeth Holmes of Theranos.

Heico (NYSE:HEI) – The aircraft components and electronics supplier announced that its fiscal fourth-quarter profit increased compared to the previous year, with revenue growing 54% to $936.4 million, surpassing analysts’ forecasts.

Plug Power (NASDAQ:PLUG) – Plug Power had its rating downgraded from “Neutral” to “Underweight” by Piper Sandler, which also lowered the target price of the clean energy company’s stock from $6.50 to $2.30, according to information from The Fly. As a result, the value of Plug Power’s shares fell 3.8% in Tuesday’s pre-market to $4.26.

Uber (NYSE:UBER), DoorDash (NYSE:DASH) – Delivery drivers in New York now have a mandatory minimum wage of $17.96 per hour, but changes in the apps of Uber, DoorDash, and Grubhub may limit earnings and tips, leading to concerns among workers. The change in the request for tips after the order may result in fewer tips for drivers, and the companies may recruit fewer drivers. The changes aim to reduce drivers’ idle time, but still rely on tips to supplement wages.

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