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Stock futures traded higher on Tuesday, indicating Wall Street will recoup some losses from Monday’s sell-off as investors turned their attention to a slew of earnings reports.
Here are some of the main drivers of Tuesday’s pre-trade negotiation:
1. Nvidia – Up 0.68%
Nvidia (NVDA) – Get a report rose as the chipmaker’s shares are expected to start trading on an adjusted basis following a spring decision to make them more accessible to individual investors and company employees.
The stock has risen nearly 80% in the past year, giving it a market value of around $ 453 billion.
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2. Ardelyx – 73% decrease
Ardelyx (ARDX) – Get a report shares fell, extending Monday’s losses after the Food and Drug Administration said it identified “deficiencies” in the company’s application for Tenapanor, a drug that controls serum phosphorus, a disease caused by chronic kidney disease in dialysis patients.
3. International Trade Machines – Up 3.6%
International Business Machines actions (IBM) – Get a report rose after the IT giant posted higher-than-expected profits in the second quarter as cloud revenues and operating margins improved.
Earnings were $ 2.33 per 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%
PPG Industries (PPG) – Get a report shares were down after the paints, coatings and specialty materials company missed Wall Street expectations for second-quarter earnings.
The company said “the widespread disruption in the supply of raw materials has caused costs to inflate mid to high percent year over year.”
5. Halliburton – Up 2.7%
Halliburton shares (THING) – Get a report rose after the energy company beat Wall Street expectations for second-quarter earnings.
Halliburton reported net income of $ 227 million, or 26 cents per share, from $ 170 million, or 19 cents per share, a year ago. Revenue totaled $ 3.707 billion, compared to $ 3.451 billion.
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