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Walmart is scheduled to report first-quarter earnings on Thursday.
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Stock futures traded slightly higher Thursday following solid gains for Wall Street after President Joe Biden said he was “confident” that he and congressional leaders will reach an agreement to avoid the first ever U.S. government default.
These stocks were poised to make moves Thursday:
Walmart
(WMT) is expected by analysts to report fiscal first-quarter earnings of $1.32 a share, more than the company’s guidance of $1.25 to $1.30 and year-earlier profit of $1.30.
Walmart
‘s report will be issued before the stock market opens. The stock rose 0.5% in premarket trading.
Alibaba
(BABA) also is expected to post quarterly earnings ahead of the Wall Street open. Investors also could hear more about the Chinese tech giant’s plans to split itself up. American depositary receipts of
Alibaba
were up 0.2%.
Cisco Systems
(CSCO) reported quarterly earnings that beat analysts’ estimates but the networking giant’s orders in its fiscal third quarter fell 23%. The stock was falling 4.2% in premarket trading.
Take-Two Interactive
(TTWO), the videogame developer, was rising 12% after posting adjusted earnings that missed estimates but revenue that beat, and signaling that key game releases would drive stronger growth in years to come. “We’ve been working on the most robust pipeline of titles in the company’s history,” CEO Strauss Zelnick told Barron’s. “And we expect that to come to fruition meaningfully, beginning in fiscal 2024, with some great titles, but really accelerating in fiscal 2025 and 2026.”
Boot Barn Holdings
(BOOT), a Barron’s stock pick from March, was falling 16% in premarket trading after the footwear and apparel retailer reported lower-than-expected fiscal fourth-quarter revenue. Same-store sales, down 5.5%, also fell more than Wall Street anticipated.
Micron Technology
(MU) confirmed Thursday an agreement to begin developing advanced memory chips in Japan. Micron said it expects to invest up to 500 billion yen ($3.6 billion) in 1-gamma process technology over the next few years, “with close support from the Japanese government.” The stock gained 2.3% in premarket trading.
Bath & Body Works
(BBWI) was rising 5% after adjusted first-quarter earnings topped analysts’ estimates and the specialty retailer raised its outlook for adjusted fiscal-year earnings.
Snowflake
(SNOW) was rising 1.4% after The Information, citing people with knowledge of the discussions, reported that the cloud-based data warehousing company has been in advanced talks to acquire Neeva, a search startup founded by former top Google ad tech executive Sridhar Ramaswamy.
