Tuesday's Premarket Winners and Losers Include Albemarle, AT&T and UPS

The three major U.S. equities indexes closed Monday with another round of solid gains. Stocks came out hot, and even a late afternoon dip failed to derail buyers. The Dow Jones industrials closed up by 1.2%, the S&P 500 up 139% and the Nasdaq up 3.4%. End-of-the-month rebalancing appears to have taken advantage of low(ish)-priced tech stocks, with names like Tesla, Netflix and Spotify posting double-digit increases. Among S&P 500 stocks, winners outnumbered losers by more than five to one in Monday trading. All 11 sectors closed higher, led by consumer cyclicals (up 3.8%), technology (2.5%) and communications services (2.3%).

At around 7:00 a.m. ET Friday morning, S&P 500 futures traded down about 0.2%, the Nasdaq down nearly 0.2% and the Dow down by 0.1%.

Crude oil settled at $88.15 on Monday and traded down about 0.1% in early morning trading Tuesday at $88.03. The 10-year/two-year U.S. Treasury note spread ended the day at 0.61%, down two basis points from Friday’s settlement.

The ISM manufacturing index for January is due out at 10:00 a.m. ET. The consensus estimate calls for the index to come in at 57.5%, down from 58.7%. Any number above 50% indicates that the economy is expanding.

Here are the five S&P 500 stocks that closed with the biggest gains on Monday: Enphase Energy (up 13.4%), SolarEdge Technologies (12.33%), Netflix (11.13%), Tesla (10.68%) and Xilinx (8.77%).

Monday’s biggest losers among S&P 500 stocks were L3Harris Technologies (down 4.29%), Kellogg (3.46%), Citrix Systems (3.42%), CF Industries (3.14%) and Pfizer (3.02%).

The leading gainer among S&P 500 stocks in Tuesday’s premarket trading was United Parcel Service Inc. (NYSE: UPS), up by around 7.3%, at $217.00 in a 52-week range of $156.59 to $220.24. The company reported fourth-quarter earnings Tuesday morning that beat consensus estimates by 15.8%. Revenue beat estimates by about 2.4% and topped the year-ago quarter’s revenue by 11.3%.

FedEx Corp. (NYSE: FDX) traded up about 2.4% to $251.76, in a 52-week range of $216.34 to $319.90. FedEx is basking in the halo effect of UPS’s strong earnings announcement. The company will not report its fiscal third-quarter results until mid-March.

Albemarle Corp. (NYSE: ALB) traded up about 1.4% before markets opened Tuesday, at $223.90 in a 52-week range of $133.82 to $291.48. BofA Securities lifted the company’s rating from Underperform to Neutral Tuesday morning.

Freeport-McMoRan Inc. (NYSE: FCX) traded up by about 1.0% to $37.60, in a 52-week range of $37.42 to $46.20. The copper and gold producer had no specific news, but it likely is tracking rising gold and copper futures prices.

D.R. Horton Inc. (NYSE: DHI) traded up 1.0% to $90.10, in a 52-week range of $72.57 to $110.45. The homebuilder had no specific news but added about 3.7% on Monday.

Stocks trading lower in Tuesday’s premarket session include AT&T Inc. (NYSE: T), which was down by about 5% to $24.18, in a 52-week range of $22.02 to $33.88. The communications services giant will spin off its WarnerMedia business into a new company that will merge with Discovery. What was hammering the stock price in the morning was AT&T’s dividend cut, from $2.08 annually (yield of 8.25%) to $1.11. That massive yield always was going to have to go away.

Devon Energy Inc. (NYSE: DVN) traded down about 1%, at $50.11 in a 52-week range of $16.85 to $54.26. The company had no specific news.

Alexandria Real Estate Equities Inc. (NYSE: ARE) traded down by 2.2% in Tuesday’s premarket, at $190.55 in a 52-week range of $154.37 to $224.95. The company had no specific news.

EOG Resources Inc. (NYSE: EOG) traded down by about 1% to $110.38, in a 52-week range of $50.94 to $113.20. The high was posted Monday, and investors may think it is a little too high.

Marathon Oil Corp. (NYSE: MRO) traded down by about 0.9% Tuesday morning, at $19.36 in a 52-week range of $7.33 to $20.58. BofA Securities downgraded the ad agency’s stock last week from Neutral to Underperform with a price target of $32.

Sponsored: Tips for Investing

A financial advisor can help you understand the advantages and disadvantages of investment properties. Finding a qualified financial advisor doesn’t have to be hard. SmartAsset’s free tool matches you with up to three financial advisors who serve your area, and you can interview your advisor matches at no cost to decide which one is right for you. If you’re ready to find an advisor who can help you achieve your financial goals, get started now.

Investing in real estate can diversify your portfolio. But expanding your horizons may add additional costs. If you’re an investor looking to minimize expenses, consider checking out online brokerages. They often offer low investment fees, helping you maximize your profit.