US stocks are set to make a positive start Tuesday, with several stocks in focus in pre-market deals.
In results news, Best Buy Co Inc (NYSE:BBY) shares shed over 5% in pre-market to stand at US$77 despite the electronics retailer reporting second-quarter earnings and sales, which smashed analysts' expectations.
The firm also raised its full-year profit outlook, building on its strong performance during the first six months of the year.
Meanwhile, luxury jeweler Tiffany & Co (NYSE:TIF) shares added 4.75% to US$135.95 as the firm posted stronger than expected quarterly results and raised the sales outlook.
Worldwide net sales rose 12% year-over-year to US$1.1bn, which it credited to broad-based growth across all geographic and product segments.
Akcea Therapeutics Inc (NASDAQ:AKCA) and Ionis Pharmaceuticals Inc (NASDAQ:IONS) both plunged before the bell after a jointly developed drug received a regulatory knock-back.
The key Food and Drug Administration (FDA) rejected a new drug application for Waylivra, a drug intended to treat a rare liver disorder.
Akcea was down more than 24% on the news while Iconis tumbled 12%.
Alo in the news, taxi app firm Uber has managed to glean US$500m (£389m) of investment from Toyota as it renews efforts to build self-driving cars.
DSW Inc (NYSE:DSW) shares shot up 19% in pre-market after the firm breezed past earnings estimates for the second quarter and raised its full-year guidance.
DSW Inc. shares soar 18% premarket after earnings b ???? low past estimates https://t.co/jgrH5VvSXy MARKETWATCH
— FinanzLinksMarkets (@FinanzLinksUS) 28 August 2018