Check out the companies that are trending in pre-market trading. Home Depot — Shares fell about 2.5% after the company beat fourth-quarter earnings estimates on sales and bottom line, but issued lower-than-expected guidance. The company had expected full-year sales growth of 1%, compared with the 1.6% expected by analysts compiled by FactSet. Net income and sales also declined over the quarter. SUPER MICROCOMPUTER — The IT company’s stock is up more than 2% after Rosenblatt nearly doubled his price target and is expected to rise 62% going forward. Rosenblatt’s price target is currently at the top of Wall Street’s stock forecasts. Walmart — Shares rose about 3% after the retail giant reported fourth-quarter adjusted earnings per share of $1.80, compared with analyst estimates compiled by LSEG (formerly Refinitiv) of $1.65. exceeded the dollar. Revenue also exceeded expectations. Additionally, Walmart announced that it would acquire television maker Vizio for $2.3 billion. Caterpillar — The stock fell 2% after a downgrade from Evercore ISI, which cited concerns that its earnings growth outlook will last longer than expected. Medtronic — Shares rose about 4% after the medical device company beat Wall Street expectations for third-quarter sales and bottom line earnings. The company announced a better-than-expected full-year earnings outlook, with Medtronic now expecting a range of $5.19 to $5.21 per share. Analysts polled by FactSet had expected $5.16. U.S. Foods — Piper Sandler upgraded the food company from neutral to overweight, saying it sees a “relatively clear path” to a stock price in the high $50s or low $60s. The stock rose 1.4%. Analyst Brian Mullan raised his price target on US Foods stock to $59 from $45, up about 19% from Friday’s closing price of $49.58. Intel — The company’s stock rose 3.3% on news that the Biden administration is negotiating to award the company more than $10 billion in Chip Act subsidies in the coming weeks. The funding will come from a $39 billion grant and a $75 billion loan pool, Bloomberg reported. Capital One, Discover Financial Services — Discover’s stock price rises more than 14% of his on news that Discover will be acquired by fellow credit card and banking company Capital One in an all-stock deal worth $35.3 billion It skyrocketed. Capital One stock fell more than 4%. Arm Holdings — Shares of the semiconductor maker fell about 4% as investors withdrew bets on the stock after a massive rally. Arm’s stock price soared about 81% in February alone. —CNBC’s Pia Singh, Sarah Ming, Michelle Fox and Jesse Pound contributed reporting.
HD, WMT, INTC, ARM etc.
