U.S. stock futures slipped, suggesting indexes will edge down from all-time highs, as investors awaited fresh data on the retail and manufacturing sectors. Here’s what we’re watching ahead of Tuesday’s market action.
- Home Depot shares dropped 3.1% premarket following its earnings report. For the three months through Aug. 1, the number of customer transactions fell compared to the year-ago quarter, but the retailer made up that ground through a larger average transaction size. Rival Lowe’s was also down, by 2.3%.
- And then, maybe investors are getting Lowe’s confused with Loews —the latter being a conglomerate with businesses in the energy and insurance industries, among others. Its shares were also down premarket, by 4.5%, with no apparent catalyst.
- Roblox shares fell 6.5% premarket as second-quarter bookings come in below Wall Street forecasts, but the videogame company posted strong growth in users and engagement.
- Walmart shares slid 0.9% premarket after its own earnings report. The retail giant logged another quarter of rising U.S. sales even as its online growth slowed, at a time when retailers are navigating rising costs, supply chain snarls and an uptick in Covid-19 cases in many parts of the country.
- Endeavor Group lifted its revenue guidance for the year, as it pointed to a growing demand for content and live events. Its shares climbed 3.9%.
- Global-E Online shares jumped 6.2% premarket after its earnings report led a couple of analysts to lift their price targets for the stock.
- America’s Car-Mart and Krispy Kreme are among the companies reporting earnings Tuesday.
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- The appeal of GameStop trading has progressively waned, and it is hard to see what might turn the tide, writes Heard on the Street columnist Rochelle Toplensky.
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August 17, 2021 at 06:24PM
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Home Depot, Roblox, GameStop: What to Watch When the Stock Market Opens Today - The Wall Street Journal
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