GE, Microsoft, J&J, Lyft, and More Stock Market Movers

Text size General Electric is scheduled to report fourth-quarter earnings Tuesday. Loic Venance/AFP via Getty Images Stock futures traded lower Tuesday after Wall Street rallied for a second day to kick off a week filled with corporate earnings. These stocks were poised to make moves Tuesday: Microsoft (MSFT) shares traded flat in premarket trading ahead of the personal computer maker’s fiscal second-quarter earnings scheduled for after stock markets close Tuesday. The company faces a sagging PC market and cloud computing growth that is decelerating. General Electric (GE) edged down 0.7% ahead of fourth-quarter earnings Tuesday. The company is also expected to issue a forecast for 2023 that likely will fall short of Wall Street estimates and could be messy given the company’s spinoff of its healthcare business on Jan. 3. Johnson & Johnson (JNJ), the healthcare giant, is expected to report its fourth-quarter earnings before the market opens on Tuesday, and issue financial guidance for fiscal 2023. The stock was rising 0.3%. Lyft (LYFT) gained 3.4% after stock of the ride-hailing company was upgraded to Overweight from Sector Weight by analysts at KeyBanc. Lululemon Athletica (LULU) fell 2.5% in premarket trading after shares of the athleisure company were downgraded to Underperform from Market Perform at Bernstein. HighPeak Energy (HPK) was rising 11.9% in premarket trading after the oil and natural gas company said it would “initiate a process to evaluate certain strategic alternatives to maximize shareholder value, including a potential sale of the company.” Write to Joe Woelfel at joseph.woelfel@barrons.com

Leave a Comment

Your email address will not be published. Required fields are marked *