Check out the firms making headlines earlier than the bell:
Home Depot (HD) – The residence enchancment retailer beat quarterly estimates by Three cents with earnings of $2.65 per share. Revenue got here in above estimates as effectively. Comparable retailer gross sales jumped 24.5% throughout the fourth quarter, more than the 19.2% consensus estimate of analysts polled by FactSet. Home Depot shouldn’t be offering 2021 steering, nevertheless, as a result of pandemic-related uncertaint. Shares fell 2.7% premarket.
Macy’s (M) – The retailer reported an adjusted quarterly revenue of 80 cents per share, effectively above the 12 cent consensus estimate, with income additionally coming in above Wall Street forecasts. Comparable retailer gross sales fell 17.1% on an owned + licensed foundation, smaller than the 21.3% drop anticipated by analysts surveyed by Refinitiv. Macy’s inventory rose 2.2% in premarket motion.
Tesla (TSLA) — Tesla shares fell more than 5% in premarket buying and selling on Tuesday, after struggling its biggest single-day loss in months on Monday. Wedbush analyst Dan Ives warns Tesla’s share worth is now straight linked to the worth of bitcoin after the electrical car maker’s funding in the cryptocurrency.
Palo Alto Networks (PANW) – Palo Alto Networks reported adjusted quarterly earnings of $1.55 per share, 12 cents above estimates, with the cybersecurity firm’s income additionally beating forecasts. Palo Alto issued a principally weaker-than-expected present quarter earnings outlook, however did be aware the alternatives supplied by the large SolarWinds hack. Shares have been down 3.7% premarket.
Churchill Capital IV (CCIV) – Lucid Motors will go public via a merger with the blank-check firm in a deal that values the mixture at $24 billion. The deal would inject $4.Four billion into the California-based luxurious electrical car maker. Churchill Capital shares tumbled 34.5% in premarket buying and selling.
InterContinental Hotels Group (IHG) – IHG reported a $153 million working loss for 2020, harm by the Covid-19 pandemic and ensuing lockdowns. However, the firm stated its Holiday Inn Express model outperformed in key markets and that world journey is starting to get well. Shares rose 1.2% premarket.
Johnson & Johnson (JNJ) – J&J is setting apart $3.9 billion in reference to talc-related litigation, in response to an SEC submitting. In November, the firm stated it will put aside $2.1 billion for talc instances, because it faces hundreds of lawsuits claiming its talc merchandise brought about most cancers.
Occidental Petroleum (OXY) – Occidental misplaced an adjusted 78 cents per share for its newest quarter, wider than the 59-cent loss that analysts have been anticipating. Revenue missed forecasts as effectively. The miss got here regardless of a rebound in oil and fuel costs. Shares fell 2.2% premarket.
Shopify (SHOP) – Shopify priced a 1.18 million share providing at $1,315 per share, with the e-commerce platform supplier anticipating to boost about $1.55 billion from the sale. Shopify plans to make use of the proceeds to strengthen its steadiness sheet. Shares fell 5.5% in premarket motion.
Carnival (CCL) – The cruise line operator’s shares fell 3.4% premarket after it priced an providing of about 40.45 million widespread shares at $25.10 per share, with the cruise line operator in search of to boost about $1 billion for use for common company functions. The cruise business has been shut down throughout the pandemic.
The RealReal (REAL) – The RealReal misplaced an adjusted 49 cents per share for its newest quarter and posted income that additionally fell wanting analyst forecasts. The secondhand luxurious items vendor’s stated 2020 was a difficult 12 months, with the pandemic “temporarily disrupting” its path to profitability. The inventory dropped 10.8% premarket.
ZoomInfo (ZI) – ZoomInfo rose 8.1% premarket after it beat estimates by 2 cents with adjusted quarterly earnings of 12 cents per share. The advertising database supplier’s income beat forecasts as effectively. ZoomInfo additionally supplied an upbeat outlook for the present quarter and full 12 months.
AMC Entertainment (AMC) – The movie show operator’s shares jumped 3.4% premarket following information that New York City film theaters will reopen with restricted capability on March 5.
Wells Fargo (WFC) – The financial institution introduced a deal to promote its Wells Fargo Asset Management unit to personal fairness corporations GTCR and Reverence Capital for $2.1 billion. Wells Fargo will retain a 9.9% stake in the enterprise.
Dollar General (DG) – Dollar General is taking steps to discover a potential successor to CEO Todd Vasos, in response to individuals accustomed to the matter who spoke to Reuters. The sources say Vasos had not communicated any intention to depart the low cost retailer when his contract expires in June, calling the course of “good governance.”
—CNBC’s Sara Salinas contributed to this report.