(Updated with futures indices, market leading prices from Walmart, Home Depot, retail and oil stocks)
PARIS, Aug 16 (Reuters) – Key stocks to watch on Tuesday on Wall Street, with major index futures suggesting an open around 0.10% lower for the Dow Jones .DJI, down 0 .15% for the Standard & Poor’s 500 .SPX and 0.20% for the Nasdaq .IXIC:
* WALMART WMT.N announced Tuesday that it now expects a smaller drop in its full-year profit than previously forecast, as promotions and lower fuel prices allowed it to beat expectations for the quarter ending in late July. In premarket trading, Walmart shares were up 3.3%, KOHL’S KSS.N 1%, MACY’S MN 1.65%, while COSTCO WHOLESALE COST.O and BEST BUY BBY.N were up 1% 1% each.
* HOME DEPOT HD.N: The home improvement and DIY retail giant on Tuesday posted quarterly comparable sales above expectations on strong demand from building professionals and individuals. The title, after an initial rise, however, entered the red at the head of the price and lost 1.1%, since the group limited itself to confirming its annual forecasts.
➦ Home Depot exceeds second quarter sales estimates
* OIL STOCKS, such as EXXON MOBIL XOM.N, fell ahead of the stock market on the back of a further drop in crude prices on fears over Chinese demand after economic indicators were seen as disappointing.
* MERCK & CO MRK.N – The pharmaceutical group has announced a cooperation agreement with the Orna Therapeutics laboratory in the field of RNA technologies, which provides for an initial investment of 250 million dollars and subsequent conditional payments that are likely to reach 3 , 5 billion.
* TENCENT MUSIC ENTERTAINMENT TME.N: The Chinese online music group posted quarterly revenue that beat expectations. The stock gained 5.9% in after-hours trading on Monday.
* TWITTER TWTR.N – Activist fund Elliott Management, which called for management changes two years ago, exited the network’s capital in the second quarter, shortly after Elon Musk announced plans to buy it back, a stock document released Tuesday shows. Monday.
* PARAMOUNT GLOBAL PARA.O gains 1.2% premarket after announcing a commercial partnership with Walmart to promote its Paramount+ online service.
* AMERICAN AIRLINES AAL.O announced Monday night the removal of several thousand flights from its November schedule in a bid to avoid disruptions at airports.
* FARADAY FUTURE INTELLIGENT ELECTRIC FFIE.O – The electric vehicle designer announced on Monday its intention to raise up to 600 million dollars (592 million euros), among other things to finance the launch of its luxury model FF 91, scheduled for end of the year.
* SNOWFLAKE SNOW.N – Shares of the online software group lost 3.9% in premarket trading after it announced a cut in investment fund manager Tiger Global Management’s stake.
* ALLY FINANCIAL ALLY.N – Berkshire Hathaway’s BRKa.N, the group led by Warren Buffett, more than tripled its share of online banking in the second quarter, according to documents released Monday. The stock gained 5.4% in premarket trading.
* NUBANK NU.N – The online bank gained more than 11% in pre-market trading after publishing quarterly results marked by a 230% jump in its revenue and a 57% jump in the number of its clients.
* ZOOM VIDEO COMMUNICATIONS ZM.O lost 3.3% in premarket trading after Citigroup’s rating was lowered to “sell” from “neutral.”
(Written by Marc Angrand and Claude Chendjou, edited by Kate Entringer)
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