By Joe Woelfel

Stock futures declined Tuesday as China retaliated against new U.S. tariffs by unveiling levies on certain American goods and opening an investigation into Alphabet's Google for possible antitrust violations.

These stocks were poised to make moves Tuesday:

Palantir Technologies soared 18% in premarket trading after the software company reported fourth-quarter adjusted earnings that topped analysts' estimates and revenue jumped 36% to $828 million, beating expectations of $776 million. The company's U.S. business jumped 52% from a year earlier. "Our business results continue to astound, demonstrating our deepening position at the center of the (artificial intelligence) revolution. Our early insights surrounding the commoditization of large language models have evolved from theory to fact," said CEO Alex Karp. For the first quarter, Palantir said it expects revenue of $858 million to $862 million, up 36% from 2024 at the midpoint and better than Wall Street estimates of $799 million.

Tesla was down 0.5% in premarket trading after shares of the electric-vehicle giant slumped 5.2% on Monday. The stock closed lower after it was announced that tariffs levied on Mexico by the U.S. would be delayed by a month but before President Donald Trump struck a similar deal with Canada. The electric-vehicle maker assembles all its vehicles for the U.S. market in Mexico but about 15% of the parts in a Model Y sold in the U.S. come from Mexico.

Shares of Nvidia, the leading maker of artificial-intelligence chips, were rising 0.7%. Nvidia declined 2.8% on Monday as Wall Street gauged the potential effects of the Trump administration's tariffs on chip companies and amid continued worries over AI advancements made by China's DeepSeek.

Super Micro Computer rose 6% in premarket trading. The maker of AI servers said it would be providing a fiscal second-quarter "business update" on Feb. 11. The Nasdaq Stock Market told the company in November that it wasn't in compliance with a listing rule requiring timely filing of reports with the Securities and Exchange Commission. In early December, the company said it expected to file its delayed financial statements by Feb. 25.

Semiconductor design company Synaptics fell 5% after announcing CEO Michael Hurlston would be stepping down to become chief executive and president of Lumentum, the maker of products for cloud and AI applications. Lumentum shares rose 1.7%.

Clorox reported a 15% drop in fiscal second-quarter sales to $1.69 billion, and said it now expects fiscal-year sales to fall 1% to 2%, down from a prior outlook for sales to be flat to down 2%. Shares of the cleaning-products maker were down 1.3% in premarket trading.

Kyndryl Holdings, the provider of information-technology services, swung to a profit in its fiscal third quarter and raised its 2025 guidance. The stock declined 1.7% in premarket trading.

Earnings reports are expected Tuesday from Alphabet, Merck, Advanced Micro Devices, Chipotle Mexican Grill, PayPal Holdings, Pfizer, PepsiCo, Amgen, and Spotify Technology.

Alphabet rose 0.2% in premarket trading ahead of fourth-quarter earnings from the parent of Google. Wall Street expects Alphabet to report earnings of $2.13 a share on revenue of $96.7 billion, up from per-share profit of $1.64 on revenue of $86.3 billion a year earlier. Cloud growth at the company and updates on its AI investments will be closely watched by investors.

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

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February 04, 2025 05:16 ET (10:16 GMT)

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