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Home Depot reported second-quarter earnings that beat analyst estimates.
Justin Sullivan/Getty Images
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:
Home Depot
(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.
Home Depot
It was down 0.3% in pre-market trading.
Warren Buffett
Berkshire Hathaway
(BRK.B) is in a new equity position
Dr. Horton
(DHI), the nation’s largest homebuilder, and smaller positions in Homebuilders
Linar
(Lynn) f
NVR
(NVR). Berkshire acquired about 6 million shares of DR Horton which are now worth more than $700 million. Berkshire reduced its stake
general motors
(GM) increased 45% to 22 million shares now worth about $750 million, according to a 13-F regulatory filing issued late Monday.
Dr. Horton
It was up 2.2% in pre-market trading. General Motors fell 0.8%.
nvidia
(NVDA) rose 1.7% to $444.95 in premarket trading after analysts at UBS raised their price target for the stock to $540 from $475 and maintained a Buy rating on shares of the graphics chip maker before earnings next week.
nvidia
It rose 7.1% on Monday.
US Steel
(X) fell 0.7% to $30.87 in pre-market trading after ending 37% higher Monday after rejecting $7.3 billion in an unsolicited bid from
Cleveland Cliffs
(CLF). Offer cash and stocks for
US Steel
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
(Saada) continued its losses in pre-market trading, falling 2.8%, after falling 34% in the previous session amid accusations that the outage of power lines may have caused the wildfires that destroyed the town of Lahaina, in Hawaii, and killed 99 people at the same time. the least. She announced an investigation into 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.
Find out Finance
(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 6.6%.
Arcelex
(ACLX) rose 7.6% after it was announced that the Food and Drug Administration lifted a clinical hold on the company’s investigational CART-ddBCMA drug for the treatment of multiple myeloma.
Getty Images
(GETY) was down 13% in pre-market trading after the stock photography company turned to a loss in the second quarter and cut its 2023 revenue forecast.
Write to Joe Woelfel at joseph.woelfel@barrons.com
