Stock futures slipped Tuesday after the
S&P 500,
up 0.7% on Monday, exited correction territory with investors increasingly convinced the Federal Reserve is finished raising interest rates.
These stocks were poised to make moves Tuesday:
Lowe’s Cos.
(LOW), the home-improvement retailer, reported third-quarter revenue that missed analysts’ estimates and a same-store sales decline of 7.4%, wider than forecasts. The company also reduced fiscal-year guidance. The stock fell 4.5%.
Dick’s Sporting Goods
(DKS) reported third-quarter adjusted earnings of $2.85 a share, well above analysts’ estimates, and raised its fiscal-year earnings forecast. The stock jumped 8.4%.
Best Buy
(BBY) was falling 4.6% after the electronics retailer’s third-quarter revenue missed analysts’ estimates and the company trimmed its fiscal-year guidance.
Third-quarter earnings at
Kohl’s
(KSS) topped forecasts but same-store sales at the retailer fell 5.5%, worse than the expected 3.8% decline. Shares declined 4.4%.
Analog Devices
(ADI) was down 1.2% after the semiconductor company issued fiscal first-quarter guidance below analysts’ estimates.
Nvidia (NVDA) is expected by analysts to report third-quarter adjusted earnings of $3.37 a share on revenue of $16.19 billion. The chip maker, which is a leading maker of processors that drive artificial-intelligence applications, reports earnings after the close of trading Tuesday. The key question for investors is what management will say about
Nvidia
‘s progress in alleviating supply constraints to meet rising demand, particularly for graphic processing units. The stock was up 0.2% ahead of the earnings report.
Microsoft
(MSFT) fell 0.4% in premarket trading after the stock rose 2% on Monday to a record $377.44 following the announcement that former OpenAI CEO Sam Altman and former OpenAI President Greg Brockman would both be joining the technology giant to lead a new advanced artificial-intelligence research team.
Burlington Stores
(BURL) surged 11% after the discount apparel retailer beat profit and same-store sales expectations in the third quarter.
Zoom Video Communications
reported better-than-expected third-quarter earnings and revenue and raised its fiscal-year outlook. The video teleconferencing company said it expects revenue in the fiscal year of about $4.5 billion and adjusted earnings of between $4.93 and $4.95 a share, higher than prior guidance of $4.63 to $4.67 a share. Zoom Video shares were down 1.2%.
Agilent Technologies
(A) reported fiscal fourth-quarter adjusted earnings and revenue that beat analysts’ estimates and shares of the maker of laboratory instruments were up 7.9%.
Symbotic
(SYM) jumped 25% after the robotics warehouse automation company reported an increase of 25% in fiscal fourth-quarter revenue and reported its first quarter of adjusted profit. The company also said it expects first-quarter revenue of $350 million to $370 million, up from $206.3 million a year earlier, and higher than analysts’ forecasts.
Write to Joe Woelfel at joseph.woelfel@barrons.com
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