Home Depot, Fisker, Tesla, Nvidia, Snap, Canadian Solar, and More Market Movers

Stock futures were rising slightly Tuesday as Wall Street awaited the release of the consumer price index, which is expected to show that U.S. inflation likely eased in October because of a drop in gasoline prices.

These stocks were poised to make moves Tuesday:

Home Depot
(HD) reported third-quarter earnings that beat analysts’ estimates and the home-improvement retailer said same-store sales in the period declined 3.1%. U.S. same-store sales fell 3.5%.
Home Depot
said it expects fiscal-year same-store sales to fall 3% to 4%. It expects per-share earnings in the fiscal year down 9% to 11%. Shares rose 1.7%.

Fisker
(FSR) was falling 14% after the electric-vehicle maker reported a wider-than-expected third-quarter loss and sales of $71.8 million that missed estimates of $143.1 million.
Fisker
didn’t include full-year production guidance along with the third-quarter results. In August, the company said it planned to build about 20,000 to 23,000 units in 2023. which was trimmed from earlier guidance.

Tesla
(TSLA) was rising 1.4% to $226.92 after shares of the EV maker closed 4.2% higher on Monday. The gains in the premarket session put the price up about $17 from where it closed last Thursday, when HSBC analyst Michael Tyndall launched coverage of the stock with a Sell rating and a price target of $146.

Nvidia
(NVDA) was up 0.7% after the stock closed 0.6% higher Monday, extending the stock’s winning streak to nine sessions. It’s the longest winning streak for
Nvidia
since Dec. 27, 2016, when it rose for 10 trading days in a row, according to Dow Jones Market Data. On Monday, Nvidia unveiled its newest artificial-intelligence chip.

Teck Resources
(TECK) was rising 5.6% after Glencore bought a 77% stake in the Canadian miner’s steelmaking coal business for $6.93 billion.

Snap
(SNAP) was rising 4.5% after
Amazon.com
(AMZN) said it would allow
Snapchat
users in the U.S. to buy some products listed on the e-commerce giant’s website directly from the Snapchat app, Reuters reported.

Canadian Solar
(CSIQ) was falling 16% after third-quarter earnings missed analysts’ estimates by a wide margin and the company’s revenue forecast for the fourth quarter was well below expectations.

Shares of
Kraft Heinz
(KHC) rose 1.8% to $33.83 after shares of the consumer food and beverage company were upgraded to Outperform from Market Perform at Bernstein. The price target was left unchanged at $40.

Write to Joe Woelfel at [email protected]

Read the full article here