Stock futures traded slightly higher Tuesday as equities remain pressured by rising bond yields.
These stocks were poised to make moves Tuesday:
(ODD), the beauty-products company, said it expects its third quarter “to be our strongest third quarter ever.” Oddity forecast year-over-year net revenue growth for the third quarter of between 29% and 31%, higher than its initial guidance of 18% to 23%. It also said it expects gross margin of 68.5%, about 100 basis points higher than its previous guidance. The stock jumped 25%.
(HPQ) was down 1.1% in premarket trading to $25.40. Warren Buffett’s
(BRK.B) sold another 5.1 million shares of HP in recent days as it continues to reduce its stake in the maker of personal computers and printers. Berkshire now holds 100.9 million shares of HP worth about $2.6 billion based on the current market price of HP shares.
(KLG) was initiated with a Sell rating and a price target of $11 by analysts at Goldman Sachs.
declined 9.1% to $13.35 on Monday and
(K) fell 6% following the spinout of the two companies from the former Kellogg. WK Kellogg houses the North America cereals business, while
is home to snack brands such as Pringles.
(ABNB) was downgraded to Sector Weight from Overweight at Keybanc without a price target, with the analysts saying the company’s margins have reached a near-term peak and revenue growth could decelerate to 11% year over year in 2024 as room night and average daily growth rate moderates. The stock declined 2.1% in premarket trading.
(META) is weighing a proposal that would charge Europeans almost $14 a month for ad-free versions of Instagram or Facebook, The Wall Street Journal reported. Meta would charge customers if they don’t agree to let the company use their digital activity to target ads. The moves are part of Meta’s efforts to navigate European Union privacy rules. Meta shares rose 0.4%.
(GM) have laid off roughly an additional 500 workers combined as the ongoing strike by the United Auto Workers forces the auto makers to idle more factories. Separately, GM said it received a counteroffer from the UAW to the company’s most recent proposal. A GM spokesman told the Detroit Free Press there was a meeting Monday between the GM and UAW. “The union did present a counter to our proposal from Sept. 21. We are assessing, but significant gaps remain.” Ford and GM shares both rose 0.2% in premarket trading.
Earnings reports are expected Tuesday from
(MKC), the parent of flavor brands such as French’s, Frank’s RedHot and
(CALM), the biggest producer of eggs in the U.S.
Write to Joe Woelfel at email@example.com