4 stocks to watch on Tuesday: Sirius XM, Costco and more
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U.S. stock index futures on Tuesday pointed to a lower open, a day after Wall Street kicked off the final week of September with slight gains. Market participants continue to come to grips with the Federal Reserve's signal of higher rates for longer. Here are some stocks to watch on Tuesday: 

Sirius XM (NASDAQ:SIRI) stock was among the most actively traded ahead of the opening bell, with shares of the broadcasting and radio company slipping 9.5%. Mass media firm Liberty Media Corp (LSXMA) earlier said that it had proposed a combination of its Liberty SiriusXM tracking stock group with SIRI to form a new, consolidated public company. SIRI's minority shareholders would collectively own about 16% of the new company, with the former holders of the track stock group owning the rest. LSXMA shares were up more than 10%.
Tesla (TSLA) stock was also among the most actively traded ahead of market open, down more than 1%. According to media reports, the electric vehicle (EV) giant could be a part of the European Union (EU) probe into whether China's EV industry is receiving unfair subsidies. Early evidence gathered by the EU suggested that TSLA is one of the companies benefitting from China's support of the industry. Close to one-fifth of all EVs sold in Europe are made in China.
U.S.-listed shares of Alibaba (BABA) retreated ~1% in pre-market trading. The Chinese e-commerce giant said it would spin-off its logistics unit Cainiao Network Technology via an initial public offering in Hong Kong, confirming reports from last week. The spin-off will be carried out through a global offering of Cainiao's shares, consisting of a Hong Kong public offering and an international offering, BABA said. As per the reports, Cainiao was planning to raise at least $1B through the stock sale.
Shares of Costco (COST) will be in focus, with the retail giant scheduled to announce FQ4 2023 results after the closing bell. Wall Street expects COST to earn $4.82 per share on revenue of $77.88B. Investors will closely watch for growth in sales and membership numbers at a time when factors such as an uncertain economy and inflation have continued to put a dent on consumer spending. Costco (COST) on Monday said its members could get online visits with a primary care provider for $29 under a deal with healthcare marketplace Sesame.

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