NIO, Moderna, Block, U.S. Steel, and More Stock Market Movers

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Stock futures rose slightly as investors prepared for the start of a two-day Federal Reserve meeting, during which the central bank is expected to keep interest rates on hold.

These stocks were set to move on Tuesday:

US listed stocks

NIO

(

NIO

) fell 4.3% in premarket trading after the Chinese electric-vehicle maker said it plans to raise $1 billion by issuing convertible senior notes. NIO said it plans to use a portion of the proceeds to offset its debt, with the remainder “mainly to further strengthen its balance sheet position and for general corporate purposes”.

Modern

( MRNA ) rose 0.8% in premarket trading, following a more than 9% decline in the previous session.

Pfizer

The chief financial officer of (PFE) predicted Weak demand for covid vaccines this year.

Modern

It was a very bad performance

S&P 500
on Monday.

Block

( SQ ) fell 1.4% after it was announced that Alyssa Henry, head of the company’s Square payments platform, would be leaving on Oct. 2. Henry has been with the block for more than nine years. Jack Dorsey, who heads the general block business, will take on the role of Henry, the company said in a statement on Monday.

American steel

(X) issued better-than-expected fiscal third quarter guidance. Shares of the metal maker fell slightly in premarket trading.

American steel

It forecast adjusted earnings of $1.10 to $1.15 a share, beating analysts’ estimates of $1.01. The steelmaker said the directive reflects the expected outcome of the United Auto Workers strike.

Rackspace Technology

(RXT) rose 8.8% to $1.61 after the cloud-computing company’s shares were upgraded to Outperform from Raymond James’ target of $3.50.

Adjusting the seam (SFIX) reported that a 22% reduction in fiscal fourth quarter revenue The online personal styling company’s active customer base fell to 3.3 million from 3.4 million last quarter and 3.8 million a year ago. The company said it expects first-quarter revenue of $355 million to $365 million, down 18 percent to 20 percent from a year ago, and below analysts’ estimates of $402 million.

Earnings reports on Tuesday from

Self-zone

(AZO) and

Apogee Enterprises

(LIME)

Write to Joe Woelfel at [email protected]