Stock futures received a bump higher on Tuesday morning as investors rallied around the decline in Treasury yields and strong earnings figures that came from Walmart. As investors push the risk off tone narrative, here are a handful of stocks to keep an eye on for Tuesday.
- Shares of the retail giant Walmart (NYSE:WMT) jumped higher during Tuesday’s premarket trading session by 7.3% after it blasted through its latest earnings report and boosted its full-year profit guidance. WMT delivered the Street with Q3 Non-GAAP EPS of $1.50, which topped forecasts by $0.18. Additionally, it also delivered revenue of $152.8B (+8.8% Y/Y), which beat the consensus figure by $6B.
- Alibaba (NYSE:BABA) surged 10.7% on Tuesday morning as President Joe Biden and Chinese President Xi Jinping stated at the G-20 summit in Bali that the two nations would have more frequent communications. The optimism has boosted not just BABA but many other Chinese Tech stocks as well.
- Home Depot (NYSE:HD) slid 1.9% in early trading despite the fact that the company notched strong earnings results, while maintaining its full-year guidance. For the third quarter, HD logged $4.24 per diluted share and $38.87 in net sales. Analysts projected $4.11 and $37.88B, respectively.
- Amazon (NASDAQ:AMZN) gained 3.1% early on as MoffettNathanson listed the firm as a Buy in the e-commerce space as the institution stated that it expects AMZN to continue to build market share. In separate news, the former CEO Jeff Bezos announced that he plans to donate most of his $124B wealth to charity.
- Twist Bioscience Corporation (TWST) crumbled 19.7% on Tuesday morning amid a new short report from Scorpion Capital. Scorpion Capital believes that TWST will go to zero.
- GAN Limited (GAN) dropped 4.2% to start the trading day as Jeffries downgraded the company to a Hold from a previous Buy. The downgrade came as GAN’s earnings report came in slightly lower than what was to be anticipated.
I broader financial news, the Nasdaq Composite, S&P 500, and Dow aim to rebound with investors still showing appetite for risk.
Read More: 6 stocks to watch on Tuesday: Walmart, Alibaba and more