U.S. stock futures were relatively flat on Tuesday as investors await the release of key U.S. inflation data.
Dow futures were up 0.08%, S&P futures were up 0.13%, and Nasdaq futures were up 0.01% at the time of writing.
Navios Maritime Acquisition Corp (NNA), AstroNova Inc. (ALOT), and Four Seasons Education (Cayman) Inc. (FEDU) are set to report their quarterly earnings before the market opens. America First Multifamily Investors LP (ATAX), RYB Education Inc. (RYB), and GreenTree Hospitality Group Ltd (GHG) are poised to report after the market close.
Farmmi Inc. (FAMI) was the most active stock in the pre-market session, with 2.01 million shares exchanging hands at the time of writing. The increased market activity comes after the Chinese agricultural products suppliers priced an $81 million underwritten public offering of its ordinary shares.
Communications Systems (JCS) was the biggest gainer in the pre-market session, jumping 34.90% at the time of writing. The spike comes on the company declaring a special dividend of $3.50 per share to be paid on October 15, 2021, to shareholders of record as of September 30, 2021.
Neonode Inc. (NEON) was one of the biggest pre-market losers, falling 11.29% at the time of writing. It is still unclear what is causing the stock to tank as no fundamental news has been released.
Intuit Inc. (INTU) has agreed to acquire marketing automation platform Mailchimp for about $12 billion. The deal is likely to close on or before the end of the second quarter of Fiscal 2022. With the acquisition, the financial technology company will likely gain a strong foothold in the small business management space.
Meanwhile, luxury hotel operator Apple Hospitality REIT, Inc. (APLE) has acquired the Aloft Hotel in Portland, Maine, for $51.2 million. With the acquisition, the company gains access to a 157-room hotel attractively placed at 379 Commercial Street, with easy access to restaurants, shops, museums, and entertainment joints.
Baidu (BIDU) has confirmed the expansion of its Robotaxi service to a fifth city. The internet giant is set to begin public testing of the Apollo Go in Shanghai as it looks to expand the service to 25 more cities over the next three years. In Shanghai, the ride-hailing service, powered by autonomous cars, will be available in 150 stations from 9:30 am to 11:00 pm every day.
General Motors’ (GM) venture capital arm has invested millions of dollars in radar software company Oculii. According to Reuters, the auto giant is poised to gain access to valuable low-cost software that should boost the radars’ resolution in its autonomous cars.
NAPCO Security Technologies, Inc. (NSSC) shares popped 16% after the company delivered better-than-expected fiscal fourth-quarter results that exceeded consensus estimates. The blowout results were characterized by strong recurring margins as the company delivered its highest ever sales and profits in Q4 amid supply and logistics constraints.