BURL - 4 stocks to watch on Tuesday: Virgin Orbit Apple and more

2023-04-04 09:14:01 ET

The futures were pointing to a higher start to Tuesday's trading. For the S&P 500 and Dow, another advance would mark their fifth consecutive day of gains. A rally would allow the Nasdaq to resume its upward march following a mild dip the day before. Here are some stocks to watch on Tuesday:

• Virgin Orbit ( NASDAQ: VORB ) plunged in premarket trading after the Richard Branson-backed satellite launching firm filed for Chapter 11 bankruptcy protection. "While we have taken great efforts to address our financial position and secure additional financing, we ultimately must do what is best for the business," CEO Dan Hart said.
• Apple ( AAPL ) is reportedly cutting some corporate retail jobs , marking what is believed to be the iPhone maker's first job cuts during this economic cycle. According to Bloomberg, citing people with knowledge of the matter, the headcount reduction comes in the company's development and preservation teams.
• Etsy ( ETSY ) rose almost 4% in premarket action, bolstered by an upbeat comment from Piper Sandler. The firm raised its rating on the online auction platform to Overweight from Neutral , predicting a reacceleration of active buyer growth.
• An analyst upgrade also gave a boost to Burlington Stores ( BURL ). Loop Capital upgraded the stock from Hold to Buy , arguing that value-focused retailers like BURL will experience increased demand in a more difficult economic environment. The stock rose about 2% before the opening bell.

Looking elsewhere in the market, see why Seeking Alpha contributor Kevin George says 'the oil price low may finally be here" after the surprise OPEC cut over the weekend .

For further details see: