US Stocks Move Higher in Recovery From Monday’s Selloff

Uber Stock Jumps After Earnings

50 minutes ago

Uber (UBER) stock jumped Tuesday after the ride-sharing giant’s second-quarter earnings beat analysts’ estimates as gross bookings grew 19% year-over-year.

The company reported a 16% revenue bump to $10.7 billion, above Visible Alpha consensus estimates. Net income also easily surpassed estimates at $1.02 billion, and more than doubled from last year’s $394 million.

Gross bookings came in just above estimates at $39.95 billion, split largely between Uber’s Mobility division ($20.6 billion) and its Delivery unit that includes Uber Eats ($18.1 billion).

JPMorgan analysts said in a note following the earnings report that they were encouraged by the acceleration of growth in Mobility and the focus on profitability of Uber’s Delivery segment.

Uber shares were up nearly 9% around midday Tuesday and were among the biggest gainers on the S&P 500

–Aaron McDade

Caterpillar Leads Dow Gainers After Profit Beat

1 hr 59 min ago

Caterpillar (CAT) shares rose Tuesday as the construction equipment maker’s second-quarter profits beat analysts’ estimates, offsetting another quarter of revenue falling short of expectations.

Revenue slipped 3.6% year-over-year to $16.69 billion, coming in short of analysts’ estimates compiled by Visible Alpha. Profits fell 8.2% to $2.68 billion, narrowly beating projections, but adjusted net income, accounting for roughly $250 million in one-time expenses like restructuring costs, beat estimates by a wider margin and rose from last year to $2.93 billion.

Caterpillar shares were up more than 4% in recent trading, making it the top gainer on the Dow Jones Industrial Average.

–Aaron McDade

Palantir Jumps After Strong Earnings, Guidance Boost

2 hr 59 min ago

Palantir (PLTR) shares jumped in early trading Tuesday after the data analytics company topped Wall Street’s quarterly estimates and raised its full-year outlook amid strong demand for its AI software services.

The shares staged an impressive intraday reversal Monday on the highest trading volume since early May to close towards their high of the day after initially opening 12% lower, indicating larger market participants may have anticipated a big earnings-driven move.

Palantir shares, which were up more than 7% at $25.84 in recent trading, could face selling pressure at key levels on the chart including $27, $29, $39, $45, and $50.50.

Read our full technical analysis here.

–Timothy Smith

Major Indexes Poised to Open Higher Tuesday

4 hours ago

Futures tied to the Dow Jones Industrial Average were up 0.4%.

S&P 500 futures were also up 0.4%.

Nasdaq 100 futures were up 0.3%.