By Joe Woelfel
Stock futures fell Tuesday, pressured by reports that said Russian President Vladimir Putin approved a change to the country's nuclear doctrine.
These stocks were poised to make moves Tuesday:
Super Micro Computer surged 30% after the server maker late Monday appointed an independent auditor and submitted a plan with Nasdaq that it believes supports its request for an extension of time to regain compliance with Nasdaq listing requirements. The stock will remain listed pending Nasdaq's review of the plan. Super Micro said its board engaged BDO USA as its auditor, effective immediately. The company disclosed in late October that its previous accounting firm, Ernst & Young, had resigned.
Nvidia was rising 1.2% following Monday's slide of 1.3%. Third-quarter earnings Wednesday from the chip maker, the largest maker of artificial-intelligence related microchips, are the most anticipated event of the week. The stock has gained 180% this year, keeping Nvidia in close contention with Apple for the most valuable U.S. company.
Alphabet was down 0.6% after The Wall Street Journal reported the Justice Department is preparing to ask a judge, in a court filing expected Wednesday, to consider structural changes to Google's business. According to a document seen by Journal, Google would have to sell off its Chrome browser or Android mobile operating system if it doesn't limit how it connects its mobile products to the use of its search engine.
Shares of Tesla fell 1.2% in premarket trading after rising 5.6% on Monday following a report from Bloomberg that said President-elect Donald Trump will be seeking to create a federal framework for self-driving cars. A framework could make it easier to obtain self-driving licenses and allow autonomous cars to drive across state lines.
Lowe's was down 2% after the home-improvement retailer reported third-quarter adjusted earnings of $2.89 a share, beating analysts' estimates of $2.82. A year earlier, however, Lowe's reported earnings of $3.06 a share. Same-store sales fell 1.1% in the period.
MicroStrategy declined 0.2%. The company will be selling a $1.75 billion issue of convertible bonds and plans to use the proceeds to buy additional Bitcoin. Shares of MicroStrategy, the largest corporate holder of Bitcoin, closed up 13% to $384.79 Monday after hitting a record high earlier in the session.
Symbotic swung to a profit in the fourth quarter as revenue jumped 19% to $576.8 million. Adjusted earnings before interest, taxes, depreciation and amortization in the period were $54.6 million, up from $18.7 million a year earlier. The AI-enabled robotics technology company said it expects fiscal first-quarter revenue of $495 million to $515 million and adjusted Ebitda of $27 million to $31 million. Shares jumped 29% in premarket trading.
U.S.-listed shares of XPeng were up 3.6% after the Chinese electric-vehicle maker reported a narrower third-quarter loss as revenue rose 18%. Gross margin in the period rose to a record 15.3%.
Walmart, the world's largest retailer, is expected by analysts to report third-quarter adjusted earnings of 53 cents a share on revenue of $167.7 billion, up 4.3% from a year earlier. Same-store sales are forecast to rise by 3.9%. Walmart's earnings release is scheduled for before the stock market opens Tuesday. Shares were up 1.6% in premarket trading.
Write to Joe Woelfel at joseph.woelfel@barrons.com
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(END) Dow Jones Newswires
November 19, 2024 06:43 ET (11:43 GMT)
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