By Anna Hirtenstein
Tesla $(TSLA)$: All eyes are on the EV maker's earnings, due after the market close. Tesla stock edged up in premarket trading, after a rocky stretch that has seen it fall over 40% in 2024.
Earnings are due from General Motors $(GM)$, PepsiCo $(PEP)$, Philip Morris (PM), Spotify $(SPOT)$ and UPS $(UPS)$ ahead of the market open. Visa (V) is set to post results after the market close.
Tapestry $(TPR)$, Capri Holdings $(CPRI)$: The Federal Trade Commission said it would block Tapestry's $8.5 billion acquisition of rival Capri, because the combined firm would have too much power in the luxury handbag market.
Cadence Design Systems $(CDNS)$: The software company's shares declined nearly 6% premarket after its financial outlook missed analysts' expectations.
Nucor $(NUE)$, Cleveland-Cliffs $(CLF)$: Shares of both steelmakers slid in offhours trading after they reported cooler demand for the metal late Monday.
Novartis (CH: NOVN) $(NVS)$: The Swiss pharma giant raised its full-year guidance and reported profit and sales that beat analysts' forecasts, sending its shares up 4.5%.
SAP (XE: SAP), $(SAP)$: The German software giant's earnings came in above Wall Street's expectations. The stock rose over 3% in European trading.
Hibbett $(HIBB)$: British retailer JD Sports (UK: JD) said it would buy Hibbett in a deal that values the American sporting-goods company at $1.08 billion. Hibbett's shares jumped roughly 18% premarket.
Sichuan Baicha Baidao Industrial: Shares of the Chinese bubble-tea company known as ChaPanda fell 27% in their trading debut, in Hong Kong's biggest listing this year.
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(END) Dow Jones Newswires
April 23, 2024 05:15 ET (09:15 GMT)
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