Stock futures were slipping Tuesday after Wall Street closed higher for a second consecutive trading session, the first time it has achieved that in about a month.
These stocks were poised to make moves Tuesday:
Nvidia was up 0.7% in premarket trading. Shares of Nvidia, the leading making of artificial-intelligence chips, fell 1.8% on Monday, the first day of the company's GTC AI conference. The big event Tuesday is a keynote address from CEO Jensen Huang, which begins at 1 p.m. Eastern time. Huang likely will announce a wide-ranging set of partnerships and products that showcase how the company's semiconductors are enabling the latest wave of AI innovations.
Intel rose 0.8% in premarket trading after shares of the chip maker finished Monday with a gain of 6.8% at $25.69. The stock has risen four straight sessions and has gained nearly 30% over the period. Lip-Bu Tan takes over officially as CEO on Tuesday but momentum has been growing for the stock since Tan was named to the top post last Wednesday. A report from Reuters on Monday said the CEO potentially plans to cut back on middle management, improve the company's chip-manufacturing performance, and introduce new semiconductors to power artificial-intelligence servers.
Alphabet, the parent company of Google, is in advanced talks to acquire cybersecurity startup Wiz for around $30 billion, The Wall Street Journal reported, citing people familiar with the matter who said the deal could come together soon. Alphabet had been close to a deal to buy Wiz for about $23 billion last summer, the Journal previously reported. Alphabet shares were uo 0.1%.
Tesla, the No. 1 U.S. electric-vehicle company, fell 0.4% to $237.05. It closed down 4.8% on Monday. The stock has declined for eight straight weeks. Tesla powered higher after Donald Trump was elected president in November, with investors hopeful Trump's second term in office would benefit the auto maker, partly under regulations designed to usher in an era of self-driving cars. But CEO Elon Musk's role as adviser to the president and his political activities have raised concerns that his involvement has been damaging the Tesla brand.
Chinese EV maker XPeng, meanwhile, is scheduled to report fourth-quarter results Tuesday. U.S.-listed shares rose 1% ahead of the report.
Steel Dynamics declined 0.4% after saying it expects fiscal first-quarter earnings in the range of $1.36 to $1.40 a share, compared with profit of $1.36 in the sequential fourth quarter, but down from $3.67 a share in the year-earlier first quarter. The steel maker said first-quarter profit from its steel operations is expected to be stronger than sequential fourth-quarter results, "based on increased shipments more than offsetting some metal margin compression."
Visual-content company Getty Images Holdings reported fourth-quarter earnings that fell from a year as operating expenses in the period rose to $211.4 million $185.1 million a year earlier. Revenue rose 9.5% to $247.3 million and just beat analysts' expectations. Shares were up 1.9%.
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