By Joe Woelfel

Stock futures were mostly lower Tuesday, a day after the S&P 500 rose for a sixth-straight session as investors looked past a downgrade of the credit rating of the United States.

These stocks were poised to make moves Tuesday:

Home Depot, the biggest home-improvement retailer, reported fiscal first-quarter adjusted earnings of $3.56 a share, missing analysts' estimates of $3.60. Revenue of $39.9 billion beat forecasts of $39.3 billion. Same-store sales in the period fell 0.3%, while U.S. same-store sales were up 0.2%. The company also reaffirmed its fiscal-year guidance. Home Depot shares were up 2.1% in premarket trading. Competitor Lowe's, which reports quarterly earnings Wednesday, rose 1.3%.

Tesla was up 1.3% in premarket trading after shares of the electric-vehicle company closed down 2.3% on Monday. Tesla shares have declined 15% this year but have jumped about 44% since reporting first-quarter earnings on April 22. The gains have left shares trading for about 172 times estimated 2025 earnings, up from closer to 72 times a year earlier. Morgan Stanley analyst Adam Jonas sees the valuation problem getting worse before it gets better.

Shares of Tesla supplier Contemporary Amperex Technology, the Chinese battery giant, soared 17% in their Hong Kong debut on Tuesday. CATL raised almost $4.6 billion in the world's largest equity offering this year.

UnitedHealth gained 1.9%. The shares rose 8.2% on Monday, closing the session at $315.89. It was the stock's largest daily percentage increase since Nov 4, 2020, when it rose more than 10%, according to Dow Jones Market Data. UnitedHealth was the top performer in the Dow Jones Industrial Average on Monday. The stock declined 23.3% last week after UnitedHealth CEO Andrew Witty resigned and the company suspended its 2025 outlook.

Nvidia slipped 0.4%. CEO Jensen Huang said Monday the chip maker would be opening its artificial-intelligence server platform to rival chip makers but he also warned the U.S. government's move to limit chip exports to China could hit revenue by $15 billion.

Amer Sports rose 11% after the sporting goods and apparel company topped first-quarter adjusted earnings estimates and raised fiscal-year profit guidance.

Hewlett Packard Enterprise gained 2.9% to $17.97 after analysts at Evercore ISI upgraded shares of the technology company to Outperform from In Line and raised their price target to $22 from $17.

Earnings reports are expected after the closing bell Tuesday from Palo Alto Networks, Keysight Technologies, and Toll Brothers.

Write to Joe Woelfel at joseph.woelfel@barrons.com

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May 20, 2025 07:46 ET (11:46 GMT)

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