By Joe Woelfel

Stock futures pointed to a slightly higher open for Wall Street on Tuesday, a holiday-shortened session.

These stocks were poised to make moves Tuesday:

Semiconductor company, Nvidia, the maker of chips that are the favored choice for training artificial-intelligence models, was up modestly in premarket trading after jumping 3.7% on Monday. Analysts at Morgan Stanley last week issued a bullish report on AI chip companies and called Nvidia a top pick for 2025, optimistic about the growth prospects for the company's latest graphics processing unit named Blackwell. Nvidia shares have gained 182% in 2024.

Broadcom was rising 1.9% in premarket trading after the semiconductor and software company ended Monday's session up 5.5% and was the best-performing stock in the S&P 500. Shares extended their gain for the year to 108%. Morgan Stanley also chose Broadcom as one of its favorite ideas for 2025. Analyst Joseph Moore likes Broadcom for its growth opportunity beyond 2025.

United States Steel declined 2.3% with Nippon Steel's plan to acquire the U.S. steel company referred to President Biden after a government panel reviewing the plan failed to reach a consensus. Biden has opposed the proposed $14.1 billion acquisition. The president now has 15 days to reach a final decision, said the White House.

D-Wave Quantum was down 0.5% after filing a $125 million mixed shelf offering. Shares of the quantum computing company, based in Palo Alto, Calif., closed up 27% on Monday. It has risen 826% this year.

Limoneira, the citrus and avocado producer, said it expects avocado volumes in fiscal 2025 of 7 million to 8 million pounds, down from the 15.1 million pounds of avocados it sold in 2024. The company anticipates fresh lemon volumes in the range of 5 million to 5.5 million cartons in the fiscal year. The stock declined 2.4%.

International Seaways jumped 6.6% following the announcement it will be joining the S&P SmallCap 600 on Dec. 30. The company is a transporter of crude oil and petroleum products.

The price target on shares of Netflix was raised to $1,000 from $785 by analysts at KeyBanc, which maintained an Overweight rating on the streaming giant. KeyBanc listed several reasons why it believes Netflix can outperform the S&P 500 into 2025, with one being that "competitive intensity is moderating," and another that live events should drive more engagement. The company will be showing two National Football League games on Christmas Day.

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

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December 24, 2024 06:10 ET (11:10 GMT)

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