Stock futures pointed lower on Tuesday as an increase in bond yields and growing concerns about the Chinese economy weighed on investor sentiment. Wall Street ended the previous session with gains, led by the best day in two weeks for technology stocks.
These stocks were poised to make moves on Tuesday:
(HD) reported second-quarter earnings of $4.65 per share on revenue of $42.9 billion, beating analyst estimates in both measures. Same-store sales, a measure of revenue growth in stores open for at least a year, fell 2%, lower than analyst expectations. The company’s board of directors also approved a $15 billion buyback program.
It rose 0.2% in pre-market trading.
(BRK.B) is in a new equity position
(DHI), the nation’s largest homebuilder, and smaller positions in Homebuilders
(NVR). Berkshire acquired about 6 million shares of DR Horton which are now worth more than $700 million. Berkshire reduced its stake
(GM) increased 45% to 22 million shares now worth about $750 million, according to a 13-F regulatory filing issued late Monday.
It was up 2.8% in pre-market trading. General Motors is down 1%.
(NVDA) rose 0.9% to $441.48 in premarket trading after analysts at UBS raised their price target for the stock to $540 from $475 and maintained a buy rating on the graphics chip maker’s stock before earnings next week.
It rose 7.1% on Monday.
(X) fell 1.1% to $30.75 in premarket trade, after ending 37% higher Monday after rejecting an unsolicited $7.3 billion bid from
(CLF). Offer cash and stocks for
valued at $35 a share. It was revealed late Monday that Esmark is privately owned I offered to buy US Steel for $35 a shareAll in cash. Esmark is headed by James Bouchard, former vice president of European Steel Works at US.
Hawaii Electric Industries
(HE) rose 0.7% in pre-market trading after falling 34% in the previous session amid accusations that power lines may have caused the wildfires that destroyed the town of Lahaina, Hawaii, and killed at least 99. Investigate the cause of the fires. While no official cause has been determined, some accuse Hawaiian Electric, the state’s largest power provider, of failing to implement safety measures. The company told Bloomberg it had no information on what caused the fires.
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(DFS) announced it CEO and President Roger Hoschild is stepping downEffective immediately, Board Member John Owen to lead the financial services company. Discover’s board of directors formed a special search committee to search for a permanent CEO and president. Discover shares fell 5.8%.
(GETY) was down 19% in pre-market trading after the stock photography company turned to a loss in the second quarter and cut its 2023 revenue forecast.
(RDFN) rose 1.4% to $10.30, Fly reported, after upgrading shares of the real estate company to Perform from Underperform without setting a price target set by analysts at Oppenheimer.
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