Stock index futures were unmoved on Tuesday, as investors looked forward to the start of retail earnings and waited for more updates on the Ukraine-Russia conflict. Here are four stocks to watch on Tuesday:
Home Depot (HD) shares were up 1.3% in premarket trade as the firm’s revenue rose 4.8% year-over-year to $45.3 billion during the second quarter. Comparable sales increased 1% for the quarter that ended on August 3 but missed the consensus expectation. The company also said customers are opting for smaller projects as interest rates remain high and economic uncertainties persist.
Intel (INTC) was up 6% before the opening bell after announcing a definitive securities purchase agreement in which SoftBank (SFTBY) (SFTBF) will make a $2B investment in Intel common stock, paying $23/share. The deal will make SoftBank the sixth-largest investor in Intel.
Medtronic (MDT) was down 3% in premarket trade as it said it will add two new directors and establish additional committees after Elliott Investment Management emerged as one of its largest shareholders. Separately, it boosted its full-year earnings outlook to account for better-than-expected financials for Q1 fiscal 2025 and a reduced impact from the Trump administration’s newly imposed tariffs.
Viking Therapeutics (VKTX) shares plunged 33% before the opening bell after announcing that its oral tablet formulation of its GLP-1/GIP dual receptor agonist VK2735 caused up to 12.2% of weight loss over 13 weeks in a mid-stage trial.