Alphabet, Accenture, Heico, Bluebird Bio, Plug Power, UBS, and More Stock Market Movers

Stock futures traded slightly higher Tuesday, a day after the


S&P 500

finished up 0.5% and moved closer to its all-time. The broad market index stands just 1.2% below its record of 4,796.56 reached in early January 2022.

Alphabet
,

the parent of search engine giant Google, agreed to pay $700 million and make certain changes to its app store in a settlement with a group of states that claimed Google operated its app store, Google Play, as an illegal monopoly.

Alphabet

shares rose 0.4%.

Accenture

reported fiscal first-quarter adjusted earnings that beat analysts’ estimates but shares of the company, which offers IT consulting and other services, fell 0.5% after its revenue outlook for the second quarter missed forecasts.

Heico
,

the supplier of airplane parts and electronics, said fiscal fourth-quarter profit rose from a year earlier as revenue jumped 54% to $936.4 million and topped analysts’ estimates. The stock was up 3.2%.

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Bluebird Bio

was falling 12% after the biotech company said it would sell $150 million of common stock in a public offering.

Plug Power

was downgraded to Underweight from Neutral at

Piper Sandler

and the price target on shares of the clean energy company was reduced to $2.30 from $6.50.

Plug Power

fell 4.1% to $4.25 in premarket trading.

UBS Group

was rising 3% after it was disclosed that activist investor Cevian Capital has taken a stake of 1.3% in the Swiss banking giant. Cevian paid €1.2 billion ($1.31 billion) for the stake, saying it sees significant value potential in

UBS

after its takeover of rival Credit Suisse.

Amgen

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was up 1.4% to $279.39 after the biotechnology company was upgraded to Outperform from Market Perform at BMO Capital and the price target was raised to $326 rom $286.

Chewy

rose 3% to $22.33 after shares of the online pet products retailer were initiated with a Buy recommendation at Jefferies and a price target of $27.

Write to Joe Woelfel at joseph.woelfel@barrons.com 



This article was originally published by a www.barrons.com . Read the Original article here. .