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Home Depot’s fourth-quarter sales missed analysts’ estimates.
Tim Nwachukwu/Getty Images
Stock futures declined Tuesday as Wall Street returned from a three-day weekend still worried the Federal Reserve will keep interest rates higher for longer as inflation remains stubbornly high.
These stocks were poised to make moves Tuesday:
Home-improvement giant Home Depot (HD) reported fourth-quarter earnings of $3.30 a share, beating analysts’ estimates by 2 cents. Sales rose 0.3% in the quarter to $35.8 billion but missed forecasts.
Home Depot
said it expects fiscal 2023 sales flat compared with fiscal 2022. The stock fell 3.4%.
Shares of Walmart (WMT) were down 0.2% in premarket trading ahead of fourth-quarter earnings from the world’s largest retailer.
Meta Platforms
(META) will be rolling out a monthly Twitter-like subscription tier for Facebook and Instagram that will assign blue badges to individuals who pay to verify their accounts. The service, called Meta Verified, will cost $11.99 a month for internet users and $14.99 on Apple’s iOS. Subscribers, who submit a government ID to be verified, get prioritization in other people’s comments, exclusive stickers for Instagram stories, and recommendations in Reels. Meta shares were rising 2.1% in premarket trading.
Amazon.com
(AMZN) was down 1.3% in premarket trading. The company’s use of restricted stock units for a large part of employee compensation is leaving pay for 2023 between 15% and 50% lower than the forecasts given to workers, The Wall Street Journal…
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