US stock futures were trading lower Tuesday after Wall Street rallied on reports that the White House's plans for tariffs next week may not be as far-reaching as many investors have feared.
These stocks were poised to make moves Tuesday:
Tesla was down 0.8% to $276.12 in premarket trading after the electric-vehicle maker's sales in Europe fell 47% in February, a second-straight month of sharp declines. The stock closed 12% higher on Monday, the best session for the stock since the near-15% gain on Nov. 6, the day after the U.S. presidential election. Boosting the stock Monday was a meeting CEO Elon Musk held with employees last week at which he told employees not to sell their shares, emphasizing Tesla's gains in self-driving technology and robotics.
Trump Media & Technology rose 9% after the company, the parent of President Donald Trump's Truth Social platform, signed an agreement with Crypto.com to launch a series of exchange-traded funds. The ETFs will be made up of digital assets as well as securities "with a Made in America focus spanning diverse industries such as energy," Trump Media said in a statement. Plans call for the funds to launch later this year.
KB Home declined 8% after the home builder reported fiscal first-quarter earnings that missed analysts' estimates as revenue of $1.39 billion dropped 5.2% from a year earlier and also was shy of forecasts. The company said because of fewer orders in the quarter it now expects fiscal-year housing revenue of $6.6 billion to $7 billion, down from a prior projection of $7 billion to $7.5 billion. CEO Jeffrey Mezger said homebuyers "are working through affordability concerns and uncertainties related to macroeconomic and geopolitical issues."
Shares of Oklo were falling 8.4% after the nuclear energy start-up posted a wider annual loss and noted that "significant" financial losses were expected into the near future. "We are an early--stage company with a history of financial losses, and we expect to incur significant expenses and continuing financial losses," the company wrote in a filing with the Securities and Exchange Commission. Oklo closed with a gain of 14% on Monday ahead of the report.
Electric-vehicle company Faraday Future said it received $41 million in new cash financing commitments in a new financing round, adding the latest round is expected to bring its total fundraising to over $100 million since September. The shares jumped 13.8% in premarket trading.
UniFirst tumbled 10% after Cintas terminated discussions about a potential purchase of the provider of workplace uniforms and protective work wear clothing. Cintas said it made an offer in January for UniFirst that was valued at about $5.3 billion, but the proposal was rejected. In a statement Monday, Cintas CEO Todd Schneider said Cintas doesn't "believe further discussions are warranted at this time." Cintas shares slipped 0.6%.
Earnings reports are expected Tuesday from GameStop, McCormick, Core & Main, Smithfield Foods, and Pony AI.
GameStop was up 0.3% in premarket trading ahead of the videogame retailer's fiscal fourth-quarter earnings scheduled for after the close of trading Tuesday. Coming into Tuesday, the original meme stock has fallen 18% this year but has gained 68% over the past year.
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