Stock futures rose slightly on Tuesday morning as market participants focused on the upcoming release of key inflation data. The broader economic calendar for this week is packed with potentially market-moving reports.

Here are some of the stock prices with the biggest moves on Tuesday:

The biggest stock winners

• Starbucks Corporation (NASDAQ:SBX) Shares rose by 15% after announcing a leadership shakeup. The coffee giant is replacing CEO Laxman Narasimhan with Chipotle Mexican Grill’s (NYSE: CMG) CEO Brian Niccol. Niccol will assume the role of CEO and chairman on September 9, 2024; until then, Starbucks CFO Rachel Ruggeri will serve as interim CEO. Narasimhan’s departure is effective immediately. The unexpected move triggered a significant ripple effect, with shares of Chipotle (CMG) Drop of 10%.
• (NYSE:SE) Shares rose by more than 7% after mixed results in the second quarter. The Singapore-based company reported revenue growth of about 23% year-on-year, beating estimates, driven by the strong performance of its e-commerce segment, which grew 33.7% year-on-year. While net profit declined to $79.9 million from $331 million a year ago, the company’s gross merchandise value increased 29.1% to $23.3 billion. “Given the strong results in the first half and our outlook for the rest of the year, we expect Shopee to achieve positive adjusted EBITDA starting in the third quarter,” said Chairman and CEO Forrest Li. “We are also revising our forecast for Shopee’s full-year 2024 gross merchandise value growth to the mid-20% range.”
• Rumble (NASDAQ:RUM) Shares rose by over 7% after better-than-expected results in the second quarter. Revenue for the quarter increased 27% quarter-over-quarter with ARPU up 19%. The platform is optimistic about its growth trajectory, expecting continued revenue growth in 2024 and targeting adjusted EBITDA breakeven by 2025 through increased monetization and cost reductions.
• Dell Technologies (NYSE: DELL) Shares rose by over 3% after Barclays upgraded the company to Equal-Weight from Underweight and gave a less pessimistic outlook following the recent drop in the share price on AI-related concerns. While the bank remains cautious on Dell’s core businesses, it believes much of the negative market sentiment is already priced in. It sets a price target of $97, representing a 1.8% upside from Tuesday’s closing price.

The biggest stock losers

• Flutter Entertainment (NYSE:FLOOD) Shares fell by over 4% ahead of the company’s second-quarter earnings report, expected after the market close. Analysts expect earnings per share of $1.42 and revenue of $3.39 billion. While revenue estimates have trended higher over the past three months (five upward revisions versus two downward revisions), earnings per share estimates have moved in the opposite direction (two cuts and no increases).
• JetBlue Airways (NASDAQ: JBLU) Shares closed 21% lower on Monday and continued its decline in premarket trading on Tuesday after the airline announced plans to raise $2.75 billion in debt, including $1.5 billion in loyalty certificates and $1.25 billion through a loyalty loan, to bolster its finances amid falling profits and revenue. The airline is using its loyalty program for this financing, a strategy it used during the pandemic, and also plans to sell $400 million in convertible bonds, highlighting its growing financial strain and increased risk of default. In response, S&P Global Ratings, Moody’s and Fitch Ratings all downgraded JetBlue’s bonds on Monday, signaling that while the airline can still meet its financial obligations, it is now more vulnerable to default.