Stock futures were edging higher on Tuesday as investors tried to make sense of another brutal artificial-intelligence selloff.
These stocks were making moves in premarket trading:
Hims & Hers Health sank 6.8% after the online health platform beat analysts’ estimates for fourth-quarter earnings but posted weaker-than-expected revenue. Hims’ guidance for the current quarter also underwhelmed. Its outlook for adjusted earnings before interest, taxes, depreciation, and amortization looked “particularly weak,” Citi Research analyst Daniel Grosslight said.
International Business Machines climbed 0.7%, having plummeted 13% on Monday after AI start-up Anthropic wrote a blog post detailing how its Claude Code tool can modernize the computer programming language used on IBM mainframes. It was the stock’s largest one-session decline in more than 25 years, according to Dow Jones Market Data.
BWX Technologies jumped 7.4% after the nuclear technology supplier beat Wall Street’sfourth-quarter earningsand revenue targets and issued strong guidance for the current year. Shares were already on a good run, jumping 104% over the past 12 months through Monday’s close amid excitement aboutbooming demand for nuclear power.
Kratos Defense & Security Solutions dropped 5.7% after the drone maker reported better-than-expected fourth-quarter earnings and shared an outlook that impliedsales growth of 20%. The good news may already have been priced in, seeing as the stock is up 280% over the past year as investors have bet on growth in unmanned military systems.
CenterPoint Energy slid 3.2% after the electric and natural gas utility company set the pricing of its offering of $600 million in 2.875% convertible notes, increasing the size of the offering from $550 million. The sale is expected to close on Thursday.
Diamondback Energy fell 3.7%, making it the S&P 500’s worst performer ahead of the opening bell. The selloff came after the oil and natural gas company missed the Street’s fourth-quarter earnings target, taking a hit from soft crude prices.
Keysight Technologies was the S&P 500’s best performer, rallying 17% after the electronics test equipment manufacturer beat earnings and revenue estimates for its fiscal first quarter. Keysight is still benefiting from the AI boom, which has driven up data-center demand for its products.
Vir Biotechnology surged 64% after the biotech reported a narrower loss than expected for the fourth quarter and said it had signed a licensing agreement to develop its prostate cancer treatment with Japan’s Astellas Pharma. Vir will receive $335 million in upfront and near-term milestone payments.
Whirlpool plunged 7.6% after the home appliance company announced public offerings of common stock and depositary shares. Whirlpool will use the money raised from the offerings to repay some of its debt and fund investments in automation.
Home Depot slipped 0.5% ahead of the retailer’sfourth-quarter earnings, which are due ahead of the opening bell. Analysts are expecting same-store sales to dip by 0.4% from a year ago, reflecting demand challenges that the home-improvement industry is facing.
American Tower, Constellation Energy, DigitalOcean Holdings, Fidelity National Information Services, Keurig Dr Pepper, NRG Energy, Planet Fitness, AMC Entertainment, Axon Enterprise, CAVA Group, CoStar, First Solar, HP Inc, Tempus AI, and Workday are all also set to report earnings on Tuesday.
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