S&P 500 Futures: Tesla, Ichor Rise Late; Wal-Mart, Workday Just Below Buys Before Analyst Day | Stock News & Stock Market Analysis

Futures for the S&P 500 index, Nasdaq 100 and Dow industrials rose slightly late Monday. Tesla (TSLA) recouped some regular-session losses on an after-hours price target hike and chip-equipment maker Ichor Holdings (ICHR) shot up on a new deal. Meanwhile, Wal-Mart (WMT) and Workday (WDAY) are setting up near buy points with both holding Tuesday events with analysts.

XAutoplay: On | OffDuring Monday’s regular session, the S&P 500 index and Nasdaq composite lost 0.2% while the Dow industrials gave up 0.1%.

Tesla

Tesla rose a fraction late Monday after Morgan Stanley raised its price target on the electric car maker to 379 from 317, though it kept an equal-weight rating. During Monday’s stock market trading, Tesla tumbled 3.9% to 342.94 amid fresh concerns about Model 3 delays and growing skepticism about CEO Elon Musk’s ambitious targets. Musk rebutted some claims, including that some parts were being assembled or welded by hand, but shares closed near session lows, falling through their 50-day moving average.

Tesla broke out of a cup-with-handle base with a 370.10 buy point last month, but began selling off a few days later — with the size of the drop and the move below the 50-day line offering clear sell signals.

Ichor Holdings

Ichor rose 6.8% to 28.75 late Monday after announcing that it reached a deal to produce liquid delivery systems for a major customer. Ichor had rallied 1.9% to 26.91 during the regular session.

Ichor broke out of a double-bottom base with a 24.40 entry in mid-September. Ichor later provided a 25.41 handle entry. By Monday’s close, Ichor was extended from both potential buy points.

Ichor came public at 9 a share last December, rising to a record 29.73 on June 9.

Wal-Mart

Wal-Mart will hold its annual meeting for the “investment community” on Tuesday, from 7 a.m.-11:15 a.m. EDT. Wal-Mart will issue a release at 8:30 a.m. EDT with select guidance and key messages.

Wal-Mart rose 1.9% to 80.53 on Monday, moving back above its 50-day moving average. Wal-Mart is in a flat base with an 82.09 buy point.

Wal-Mart has been active rather than reactive in dealing with the Amazon.com (AMZN) threat, making several e-commerce takeovers and trying out innovative techniques to win over concerns. It’s rolling out a new Wal-Mart Express Returns feature on its mobile app that will let shoppers begin the returns process via their smartphones, with the in-store experience reduced to 30 seconds or so.

Last month Kohl’s (KSS) announced that Amazon shoppers could take returns to the department store.

Workday

The cloud-based enterprise software firm holds its own analysts day event on Tuesday. Workday provides human resources and financial software, and recently announced that it would offer platform-as-a-service (PAAS) as well. That would put Workday in further competition with Oracle (ORCL) and SAP (SAP).

Workday fell 1.4% to 108.69 on Monday, but that’s after climbing 6.7% in the prior four sessions. Workday is in a flat base with a 111.55 entry.

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