Stock futures traded higher Tuesday, indicating Wall Street will claw back some losses from Monday’s selloff as investors turned their attention to a slew of earnings reports.
Here are some of the top movers during premarket trading on Tuesday:
1. Nvidia – Up 0.68%
Nvidia (NVDA) – Get Report moved higher as the chipmaker’s shares are set to begin trading on a split-adjusted basis following a spring decision to make them more accessible to individual investors and company employees.
The stock has risen nearly 80% over the past year, giving it a market value of around $453 billion.
2. Ardelyx – Down 73%
Ardelyx (ARDX) – Get Report shares tumbled, extending Monday’s losses, after the Food and Drug Administration said it had identified “deficiencies” on the company’s application for Tenapanor, a drug that controls serum phosphorus, a condition caused by chronic kidney disease in dialysis patients.
3. International Business Machines – Up 3.6%
Earnings came to $2.33 a share, up 6.9% from the same period last year and just ahead of the consensus forecast of $2.29.
4. PPG Industries – Down 5.3%
The company said “pervasive raw material supply disruptions drove year-over-year cost inflation of a mid-to-high-teen percentage.”
5. Halliburton – Up 2.7%
Halliburton reported net income of $227 million, or 26 cents a share, up from $170 million, or 19 cents a share, a year ago. Revenue totaled $3.707 billion, up from $3.451 billion.