Unity Software, Northrop, PagerDuty, Ventyx, PepsiCo, and More Stock Market Movers

Stock futures traded higher Tuesday and Treasuries jumped as dovish comments from Federal Reserve policymakers helped boost risk appetite. Wall Street continued to assess the impacts of the Israel-Hamas war as it enters its fourth day.Unity Software rose 6.7% in premarket trading after the announcement that John Riccitiello would be retiring as president, chief executive and chairman of the game development platform company.

Northrop Grumman , like other defense stocks, led the S&P 500 on Monday following the Hamas attack on Israel. Northrop jumped 11% and was rising an additional 1% in premarket trading. Lockheed Martin , which gained 8.9% on Monday, rose 0.6% in premarket trading. PagerDuty , a provider of incident management software, declined 6.2% after announcing it planned to offer $350 million of convertible senior notes.

Topline results released by Ventyx Biosciences from its trial of VTX002 in patients with moderate-to-severely active ulcerative colitis were at the lower end of company guidance and the stock sank 21% in premarket trading. PepsiCo is scheduled to report third-quarter earnings Tuesday and analysts expect the beverage and snack maker to post a profit of $2.15 a share, up from $1.97 a year earlier, on sales of $23.41 billion, up from almost $22 billion. However, the report could be more of a referendum on the impact of Ozempic and other weight-loss drugs.

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Unity Software’s Chairman, CEO John Riccitiello leaving companyWallace Witkowski came to MarketWatch from the Associated Press in New York, where he covered the business of Big Pharma, after covering FDA regulation of many of the same companies, as well as medical devices, in the Washington, D.C., area. Based in San Francisco, his current focus is on the more exciting world of semiconductors, videogames and cybersecurity, when he's not churning out earnings coverage. Follow him on Twitter at: wmwitkowski.
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Lockheed Martin, Northrop Grumman Stocks Notch Best Days In Years Amid Israel-Hamas ConflictI'm a New Jersey-based Senior Reporter on our news desk. I graduated in 2021 from Duke University, where I majored in Economics and served as sports editor for The Chronicle, Duke's student newspaper. Send tips at dsaulforbes.com.
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