By Peter Nurse
Investing.com -- Stocks in focus in premarket trade on Tuesday, May 18th. Please refresh for updates.
Walmart (NYSE:WMT) stock rose 3.3% after the retail giant raised its full-year earnings forecast and beat estimates for same-store sales as additional stimulus resulted in boosted demand for apparel and electronics.
Home Depot (NYSE:HD) stock rose 2.1% after the top U.S. home improvement retailer blew past quarterly same-store sales estimates, as demand remained strong for its products even as vaccinations opened up more traditional avenues for customers to spend their money.
Macy’s (NYSE:M) stock rose 6.5% after the retailer raised its forecast for annual sales and earnings, betting on pent-up demand as shoppers vaccinated for the coronavirus return to stores.
Tesla (NASDAQ:TSLA) stock fell 1.2% after the family office run by "Big Short" investor Michael Burry disclosed a short position against the electric car maker worth more than half a billion.
IBM (NYSE:IBM) stock fell 0.1% after Big Blue said it would buy Waeg, a consulting partner for Salesforce (NYSE:CRM), in a deal that will extend its range of services and support its hybrid cloud and artificial intelligence strategy.
Twilio (NYSE:TWLO) stock rose 1.5% after news that the communications software company is acquiring business-texting startup Zipwhip for approximately $850 million in a cash and stock deal.
Eastman Kodak (NYSE:KODK) stock fell 0.7% after Reuters reported that the New York attorney general’s office is preparing an insider-trading lawsuit against the company and its top executive.
Fisker (NYSE:FSR) stock rose 1.5% after the electric car manufacturer raised its outlook on full-year spending as it looks to ramp-up the pace of research and development, even as it reported a wider-than-expected first-quarter loss.
Aon (NYSE:AON) stock rose 1.5% after a regulatory filing revealed that Warren Buffett’s Berkshire Hathaway (NYSE:BRKa) had taken a stake in the U.K.-based professional services company as of March 31.
Baidu (NASDAQ:BIDU) stock rose 3.2% after the Chinese tech company reported a 25% rise in quarterly revenue, powered by advertising on its core search and video-streaming platforms.
Stellantis (NYSE:STLA) stock rose 0.9% after the carmaker announced a joint-venture with iPhone assembler Foxconn that will supply in-car and connected-car technologies.
- BP (LON:BP) (NYSE:BP) ADR rose 1.3% after Barclays (LON:BARC) named the oil major as one of its top picks, saying the rise in oil prices should boost the stock even as the company pivots toward greener energy.