U.S. stock futures slipped Tuesday as investors digested corporate earnings reports following the holiday. Palo Alto Networks stock dropped 0.8% ahead of its cybersecurity results, despite the company lifting its full-year revenue and profit forecasts in November due to increased demand for digital security offerings. General Mills shares fell 3.4% after the packaged foods company cut its annual core net sales and profit forecasts, blaming weaker consumer sentiment.

Norwegian Cruise Line stock jumped 7.5% after activist investor Elliott revealed a more than 10% stake in the cruise operator, according to the Wall Street Journal. Masimo shares surged 34% following reports that Danaher is closing in on a nearly $10 billion deal to acquire the medical device manufacturer. Meanwhile, Medtronic stock fell 3.7% after the medical devices company reported lower third-quarter profit, primarily due to higher expenses.

Warner Bros Discovery shares rose 2.9% after rejecting Paramount Skydance's latest $30-a-share hostile takeover bid but giving the Hollywood studio seven days to propose a better deal. Qualcomm stock fell 0.8% despite announcing a London lawsuit alleging abuse of its dominant position to force inflated royalties from Apple and Samsung will be withdrawn. Shopify shares rose 0.1% after Truist Securities upgraded the e-commerce company to 'buy' from 'hold', citing an attractive entry point created by a broad software selloff tied to AI concerns.