Premarket movers: JetBlue, Cadence rise; Whirlpool slips

  U.S. stock index futures hovered near the flatline on Tuesday as investors looked ahead to a Federal Reserve policy decision and a busy week of major technology earnings. 

By 07:25 ET, S&P 500 futures had edged up 0.3%, Nasdaq 100 futures had gained 0.5%, and Dow futures had risen 0.25%

JetBlue Airways shares rose 8.4% in premarket trading after the airline’s third-quarter 2026 results and forward guidance offered investors some reassurance following a sharp selloff on Monday. The carrier reported an adjusted loss of $0.60 per share and revenue of $2.81 billion, both slightly below consensus estimates.

However, management forecast fourth-quarter revenue per available seat mile growth of 18% to 22% year-over-year and operating margin expansion of 1 to 2 percentage points, helping the stock rebound from Monday’s record intraday low of $2.16.

Whirlpool shares fell 8.4% before the bell after the appliance maker reported weaker-than-expected third-quarter results and cut its full-year outlook for the third time this year. The company posted an adjusted loss of $0.21 per share, compared with analyst expectations for earnings of $1.04 per share, while revenue of $3.68 billion fell short of estimates of around $3.97 billion and declined 8.8% year-over-year.

Whirlpool now expects an ongoing loss of about $1.30 per share for 2026, reversing analyst expectations for earnings of $1.21, and forecast revenue of roughly $14.5 billion. CEO Marc Bitzer said the recovery was progressing more slowly than expected, pointing to pricing measures and structural cost initiatives as drivers of potential margin improvement in 2027.

Centene slipped 1% despite the health insurer raising its full-year profit forecast after reporting better-than-expected third-quarter results. The company now expects 2026 adjusted earnings of more than $5.20 per share, up from its previous forecast of more than $4.80 and above analysts’ estimate of $4.88.

Centene’s medical loss ratio, which measures the share of premiums spent on medical care, came in at 92.7%, unchanged from a year earlier and below the 92.84% analysts had expected. CEO Sarah M. London said solid underlying fundamentals in the company’s core businesses had helped accelerate its earnings recovery.

Hilton Worldwide Holdings fell 5.4% in premarket trading even after the hotel operator raised its full-year room revenue growth forecast, citing resilient travel demand. The company now expects revenue per available room, or RevPAR, to increase by 4% to 4.5% in fiscal 2026, compared with its previous forecast of 3% to 3.5%.

Hilton reported continued strength across luxury and other hotel categories, with RevPAR at its Waldorf Astoria and LXR properties rising 13.9% and 14.3%, respectively, during the quarter. Leisure travel remained firm, while business travel also supported demand despite persistent inflation and geopolitical uncertainty.

Smithfield Foods dropped 4.4% before the open after the pork producer reported third-quarter results that fell short of expectations and lowered its full-year outlook. Operating profit declined to $127 million from $310 million a year earlier, while sales fell 8.3% to $3.4 billion, below analysts’ estimate of $3.69 billion. Adjusted diluted earnings per share dropped to $0.26 from $0.58.

Smithfield now expects fiscal 2026 revenue to decline by a low-single-digit percentage from the prior year and forecast adjusted operating profit of $900 million to $1 billion. Its Fresh Pork business swung to an operating loss of $89 million from a profit of $10 million a year earlier as processing spreads narrowed. Packaged Meats remained a relative bright spot, with operating profit rising to $230 million from $226 million.

Cadence Design Systems climbed 2.4% in premarket trading after the electronic design automation software maker beat third-quarter earnings and revenue expectations and raised its full-year outlook for the third time this year.

Non-GAAP earnings came in at $2.11 per share, above the $2.04 consensus estimate, while revenue rose 22% year-over-year to $1.633 billion, topping expectations of around $1.61 billion. CFO John Wall cited strong growth across product categories driven by AI-related design activity, adding that a record backlog of $8.2 billion positioned the company for a strong finish to the year. The board also authorized an additional $2.5 billion share repurchase program, on top of $400 million in buybacks during the third quarter.

Innio NV surged 9.1% before the bell after the distributed energy solutions provider reported record third-quarter results and raised its 2026 guidance. Revenue reached $1.2 billion, marking the company’s first quarter above the $1 billion threshold, while net income jumped 176% year-over-year to $109.2 million. Adjusted EBITDA increased 70% to $245.4 million, representing a 21% margin. Innio raised its full-year revenue forecast to $3.9 billion to $4.0 billion from $3.8 billion to $3.9 billion, and lifted its adjusted EBITDA outlook to $780 million to $800 million from $720 million to $740 million.

Royal Caribbean Group rose nearly 5% in premarket trading after the cruise operator reported better-than-expected third-quarter earnings and raised its full-year profit outlook. Adjusted earnings came in at $6.57 per share, topping analysts’ estimate of $6.38, while revenue of $5.6 billion was slightly below the $5.61 billion consensus.

Royal Caribbean now expects full-year adjusted earnings of $17.85 to $17.95 per share, with the midpoint above the previous analyst consensus of $17.83. Third-quarter revenue rose 9% year-over-year, supported by strong close-in bookings and better-than-expected demand in Europe and the Caribbean. Net yields increased 0.9% as reported, while net cruise costs excluding fuel per available passenger cruise day declined 1.9%, although some cost savings reflected expenses shifting into the fourth quarter.

MidCap Financial Investment Corp surged 19.1% in premarket trading after Ares Capital Corporation (NASDAQ) announced a definitive agreement to acquire the company in a stock-and-cash transaction with an enterprise value of about $2.6 billion.

Under the terms of the deal, MFIC shareholders are expected to receive $10.88 per fully diluted share, comprising approximately $1.21 in cash from an Ares Management subsidiary and $9.67 in Ares Capital common stock. The consideration represents a premium of about 30.1% to MFIC’s last closing price and 25.8% to its 30-day volume-weighted average price.

United Parcel Service rose 1.7% after the parcel delivery company raised its annual revenue and profit forecasts, following quarterly earnings that exceeded analyst expectations. UPS said higher-margin international air shipments and a reduction in lower-margin deliveries for Amazon helped support its results.

The company also said it remained on track to achieve its target of $3 billion in cost savings this year. UPS has been closing facilities and cutting thousands of jobs as it scales back deliveries for Amazon, its largest customer. As a widely watched indicator of global economic activity, the company’s results and outlook also offer investors insight into shipping demand and business conditions.

PayPal fell 1.1% in premarket trading despite the payments company raising its full-year adjusted profit forecast, as its turnaround efforts begin to show progress through improving margins and resilient consumer spending. PayPal now expects adjusted earnings of about $5.60 per share for the year, above its previous outlook and analysts’ consensus estimate of $5.38, according to LSEG data.

The company has been working to revive growth under CEO Enrique Lores amid intensifying competition from Apple, Google and newer financial technology companies, after struggling to sustain the popularity it enjoyed during the pandemic.