December 3, 2022

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Home Depot, Roblox, GameStop: What to Watch When the Stock Market Opens Today

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 3.4% premarket following its earnings report. The home-improvement retailer said same-store sales grew by 4.5% year over year during the second quarter. Rival Lowe’s was also down, by 2.5%.
  • 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 5.5% 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 1.5% premarket after its own earnings report, which showed a rise in comparable sales.
  • 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 4% 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.
Chart of the Day
  • 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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