Stock futures traded mostly higher Tuesday after the S&P 500 and Nasdaq Composite set record closing highs on Monday.
These stocks were poised to make moves Tuesday:
Zscaler Inc. reported better-than-expected fiscal first-quarter adjusted earnings, revenue, and billings but revenue guidance for the second quarter of $634 million at the midpoint just edged out estimates of $633 million and sent shares of the cybersecurity company down 7.4% in premarket trading. Zscaler said it anticipates second-quarter adjusted earnings of 68 cents to 69 cents a share versus estimates of 68 cents.
SUPER MICRO COMPUTER INC , the artificial-intelligence server maker, was rising 7.2% following a jump of 29% on Monday after an independent committee said an internal probe into why its auditor quit, forcing it to delay earnings, found no evidence of fraud or misconduct. Coming into Tuesday, the stock remained 4% lower than it was three months ago but has risen 61% in the past month.
Tesla Motors declined 1.2% after a Delaware judge rejected Elon Musk's pay package for a second time. The court's decision came after a second shareholder vote designed to address the judge's problems with the first vote. The second vote was needed after Delaware Chancery Court Judge Kathaleen McCormick in January voided Musk's 2018 pay package awarding him some 300 million options. "The court's decision is wrong, and we're going to appeal," Tesla posted on social-media platform X.
Honeywell declined 1.7% after cutting its full-year outlook following the signing of a strategic agreement with Bombardier. Honeywell said it expects revenue in 2024 of between $38.2 billion and $38.4 billion, down from between $36.8 billion and $38.8 billion, and adjusted profit of $9.68 and $9.78 a share, lower than previous guidance of $10.15 to $10.25. The agreement to supply advanced avionics, propulsion, and satellite communications technologies for Bombardier's aircraft, Honeywell estimated, could provide revenue of up to $17 billion.
CREDO TECHNOLOGY GROUP HOLDING LTD, the data infrastructure networking company, jumped 40% after posting fiscal second-quarter earnings and revenue that topped analysts' estimates and saying it expects third-quarter revenue of between $115 million and $125 million, higher than consensus of $86 million.
Microchip Technology declined 1.7% after the provider of microcontroller, mixed-signal, analog and Flash-IP solutions said it would be cutting about 500 jobs after turns orders were slower than anticipated. Microchip said fiscal third-quarter revenue would be close to the low end of its previous guidance between $1.025 billion to $1.095 billion. The company also said with "inventory levels high and having ample capacity in place," it will be shutting down its wafer fabrication facility in Tempe, Ariz.
Bitcoin miner CleanSpark, Inc. fell 6% after reporting a fiscal 2024 loss of 69 cents a share, wider than analysts' estimates that called for a loss of 49 cents, according to FactSet, and revenue of $379 million that also missed forecasts.
Earnings reports are expected Tuesday from Salesforce.com, Marvell Technology, Pure Storage, Okta Inc., Box Inc.
Marvell was up 1.5% ahead of third-quarter earnings from the chip maker. Investors expect spending by the company on artificial intelligence will boost chip sales in the period.
