Wall Street is looking at a negative start to September, with stock index futures down on Tuesday, as fresh uncertainty regarding tariffs hit investor sentiments. Here are four stocks to watch on the day:
Ferrari (RACE) shares were up 1.3% in premarket trade as Deutsche Bank upgraded the stock to a Buy rating on Tuesday ahead of the automaker’s Capital Markets Day in October. During which it is anticipated to unveil ambitious midterm targets, including adjusted EBIT margins potentially exceeding 30% and a €3 billion share buyback.
Zscaler (ZS) stock rose 1% in extended trading after Morgan Stanley upgraded its rating to Overweight from Equal-weight. The firm also raised the price target on the shares of the cloud security company from $320 to $280. Zscaler is slated to report its quarterly results post-market today, Sept. 2. Wall Street expects the cloud security company to post EPS of $0.80, implying a 9.1% decline, while revenue is estimated to increase 19.3% to $707.14 million during the quarter.
NIO (NIO) shares rose 2% before the market open after it reported Q2 GAAP EPADS of -$0.32 and its revenue rose 9% year-on-year to $2.65B. For Q3, the company expects deliveries of vehicles to be between 87,000 and 91,000 vehicles, representing an increase of 40.7% to 47.1% from the same quarter of 2024. Total revenues will be between RMB21,812 million and RMB22,876 million, up 16.8% to 22.5% from the same quarter of 2024. 2024.
Merck & Company (MRK) shares were nearly flat in premarket trade as the firm said that its experimental therapy enlicitide reached the main goals in a Phase 3 trial for adults with high cholesterol (hypercholesterolemia) who were on stable lipid-lowering therapies such as statins.