Nvidia, Tesla, Dollar Tree, Chewy, GameStop: Stocks to watch

Quartz
26 Mar
Photo: Scott Olson (Getty Images)

U.S. stocks may be mixed after European stocks fell on Wednesday amid concerns about Donald Trump’s plans for his April 2 tariff announcement. Futures tied to the S&P 500, the Nasdaq, and the Dow Jones Industrial Average fluctuated. Nvidia (NVDA) and Tesla (TSLA) declined in premarket trading.

The rally faltered on Tuesday as U.S. consumers turned their gloomiest in over a decade and as uncertainty persisted over plans for the next round of President Donald Trump’s tariffs.

Economic indicators are in focus this week, amid concerns that the U.S. economy is softening. On Tuesday, the Consumer Confidence Index’s expectation gauge hit a 12 year low reading of 65.2 — below 80 is considered a recession signal.

On Wednesday, durable goods orders, due at 8:30 a.m. EDT, may have dropped 1% in February, flipping from a 3.2% gain in January. Stripping out transportation equipment, the tally may have increased 0.25% month-on-moth, after being flat in January.

Federal Reserve speakers today include Minneapolis President Neel Kashkari and St. Louis chief Alberto Musalem.

Stocks to watch today:

Chewy

Chewy’s (CHWY) stock jumped 5.6% premarket after the online pet supplies retailer’s earnings per share and sales topped estimates. CEO Sumit Singh cited “strong active customer growth” for the results and said momentum remains good, according to the company’s earnings statement.

Dollar Tree

Dollar Tree’s (DLTR) stock gained 24% in premarket after the discount retailer said it will sell its Family Dollar business unit to Brigade Capital and Macellum Capital for about $1 billion. Fourth-quarter same-store sales gained 2% year-on-year and the chain opened 33 new Dollar Tree stores. EPS fell 24% year-on-year.

GameStop

GameStop (GME) surged 17% before the opening after it amended its investment policy to include Bitcoin. The company’s fiscal-fourth quarter sales plunged 24% from a year earlier but its profit topped expectations.

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