U.S. Stocks to Watch: Nvidia, Palantir, Alibaba, NIO, Zoom, Workday, Intuit, and More

Dow Jones
08/22

US stock futures were rising on Friday, with the S&P 500 bidding to snap a five-session losing streak as Wall Street awaited clues on interest rates from Federal Reserve Chairman Jerome Powell in a speech scheduled at the central bank's annual gathering in Jackson Hole, Wyo.

These stocks were poised to make moves Friday:

Shares of Nvidia, the leading maker of AI chips, fell 1.1% after multiple reports said the company had asked some of its suppliers to stop production related to its H20 processors, which are made for the Chinese market. The stock has finished lower for three consecutive days, falling 3.9% over the span, and has closed down in four of the past five sessions.

Palantir stock dropped 0.8% in premarket trading after the company, which sells AI software to manage and analyze large amounts of data, rose slightly Thursday to snap a six-session losing streak. It was Palantir's longest losing streak since April 2024, when it also declined for six consecutive trading days, according to Dow Jones Market Data.

Zoom reported second-quarter adjusted earnings of $1.53 a share, beating analysts' forecasts of $1.38, as revenue rose 4.7% to a slightly better-than-expected $1.22 billion. The videoconferencing platform also raised its fiscal-year outlook, sending the stock up 5.3% in the premarket session.

Lucid Group shares dropped 1.9% after the electric-vehicle maker said it would proceed with a 1-for-10 reverse stock split of its shares of common stock, following approval by its board. The reverse stock split is expected to take effect after next Friday's closing bell, and the stock is expected to start trading on a split-adjusted basis when the market opens on Sept. 2.

Intuit topped Wall Street's fiscal fourth-quarter earnings expectations but the stock fell 5.6% in premarket trading following disappointing fiscal 2026 guidance. The parent company of TurboTax and Credit Karma said it expects fiscal-year earnings of between $22.98 and $23.18 a share on revenue of $21 billion to $21.19 billion. The low end of Intuit's guidance was just below Wall Street estimates for earnings of $23.02 a share on revenue of $21.1 billion.

Workday reported second-quarter adjusted earnings of $2.21 a share, beating analysts' estimates of $2.11, as subscription revenue jumped 14% from a year earlier to $2.17 billion. But the stock stumbled, falling 4.3%, as the human-resources software company issued third-quarter guidance that was slightly shy of expectations. For the current quarter ending in October, Workday expects subscription revenue of $2.235 billion, just below estimates of $2.237 billion. Workday also announced it was acquiring Paradox, a company that uses artificial intelligence to automate recruitment and hiring processes. Terms of the deal weren't disclosed.

Second-quarter sales at Ross Stores rose 5% to $5.53 billion, with the discount department store chain saying it was encouraged by trends at the end of the quarter, "particularly with the early sales performance related to the back-to-school selling season." Wall Street was estimating sales of $5.54 billion. Earnings of $1.56 a share included a negative impact of 11 cents from tariff-related costs, the retailer said. A year earlier, Ross Stores reported a profit of $1.59 a share. The stock climbed 2.2% in premarket trading.

Paramount Skydance stock rose 0.6% ahead of the opening bell, having jumped 15% on Thursday. It wasn't immediately clear what drove the surge, although shares have drawn significant interest from retail investors in recent weeks. Paramount and Skydance merged on Aug. 7. to form a new company officially called Paramount, a Skydance Corporation. After floundering for its first couple of trading sessions, the stock spiked 37% on Aug. 13, in a move that appeared to echo the 2021 meme-stock craze.

Chinese ADRs jumped in premarket trading. Alibaba rose 2%; XPeng rose 3%; PDD Holdings rose 4%; NIO rose 7%.

Earnings reports are expected Friday from BJ's Wholesale Club and RLX Technology.

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