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Wall Street continues to monitor progress on negotiations to raise the U.S. debt ceiling. (NYSE)
Stock futures fell Wednesday, extending losses from the previous session, after negotiators made little progress in talks to raise the U.S. debt ceiling.
These stocks were poised to make moves Wednesday:
Intuit
(INTU), the company that owns TurboTax, reported third-quarter revenue that rose from a year earlier but missed Wall Street forecasts. The company boosted its earnings and revenue outlook for the fiscal year but its fourth-quarter profit estimate disappointed. The stock was down 5.5% in premarket trading.
Palo Alto Networks
(PANW) reported fiscal third-quarter adjusted earnings that beat analysts’ estimates and the cybersecurity company raised guidance on profit, revenue, and billings for the fiscal year. The stock was rising 4.6% in premarket trading.
PacWest Bancorp
(PACW) gained 5.7% in premarket trading after the bank sold a real-estate lending arm, Civic Financial Services, to Roc360, a real-estate lending firm. The stock rose 7.7% on Tuesday after agreeing to sell a portfolio of 74 real estate construction loans.
Agilent Technologies
(A), the maker of laboratory instruments, cut its outlook for the fiscal year, saying on a conference call that customers have become more conservative with “CapEx budgets and spending decisions.” The stock was falling 9.1%.
Fourth-quarter adjusted earnings at
VF Corp.
(VFC) topped Wall Street forecasts as sales at The North Face, the company’s outdoor clothing brand, rose 12%, offsetting a sales decline of 14% at shoe brand Vans. The stock rose 4.3%.
Luxury home builder
Toll Brothers
(TOL) reported fiscal second-quarter earnings of $2.85 a share, beating analysts’ forecasts by a wide margin. Toll said a demand increase that began in January as mortgage rates stabilized “has continued through our second fiscal quarter and into the start of our third quarter.” Toll shares rose 3.5%.
Urban Outfitters
(URBN) was rising 12% after the retailer posted better-than-expected fiscal first-quarter earnings and sales.
Nvidia
(NVDA) is expected by analysts to report fiscal first-quarter adjusted earnings of 92 cents a share on revenue of $6.5 billion when the chip maker issues its report after stock markets close Wednesday. The stock was down 0.7% in premarket trading. It has gained 110% this year.
Other companies scheduled to report quarterly earnings Wednesday include
Analog Devices
(ADI),
Snowflake
(SNOW),
Splunk
(SPLK),
XPeng
(XPEV),
UiPath
(PATH),
Kohl’s
(KSS), and
Abercrombie & Fitch
(ANF).