Lowe's, Zoom, Microsoft rise premarket; Macy's, Dick's Sporting Goods fall
Investing.com — U.S. futures traded higher Tuesday, continuing the previous session’s tech-led rally as investors digest more corporate earnings, particularly from the retail sector.
Here are some of the biggest premarket U.S. stock movers today:
Lowe’s (NYSE:LOW) stock rose 2.8% after the home improvement retailer posted a smaller-than-expected drop in quarterly comparable sales, helped by a boost from delayed spring season sales and sustained consumer spending on smaller projects.
Macy’s (NYSE:M) stock fell 1.4% after the department store chain posted a drop in quarterly profit on Tuesday, dragged down by heavy discounting and higher promotions to clear spring and early summer merchandise.
Dick’s Sporting Goods (NYSE:DKS) stock slumped 19% after the athletics goods retailer reported a profit drop and cut its earnings outlook for the year after seeing an uptick in retail theft and slow sales.
Zoom (NASDAQ:ZM) stock rose 1.8% after the video-conferencing platform forecast third-quarter profit above expectations, a positive sign for the company that has tried to overcome a post-pandemic slowdown by offering a wider range of collaboration tools.
Microsoft (NASDAQ:MSFT) stock rose 1.2% after the software giant proposed a revised version of its merger with «Call of Duty» maker Activision Blizzard (NASDAQ:ATVI), up 1%, in a bid to receive approval from U.K. competition authorities for the video-gaming industry's largest-ever tie-up.
Coty (NYSE:COTY) stock fell 0.2% after the perfume and cosmetics maker issued a downbeat annual profit forecast, overshadowing positive fourth quarter revenues as customers splurged on both its high-end and affordable produce.
Nvidia (NASDAQ:NVDA) stock rose 1.8%, adding to the previous session’s
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