Check out the companies that are trending in pre-market trading. Home Depot – Shares fell about 2.5% after the company beat fourth-quarter earnings estimates on revenue and bottom line but issued guidance that was lower than expected. The company had expected full-year sales growth of 1%, compared with the 1.6% expected by analysts compiled by FactSet. Net income and sales also declined over the quarter. Super Microcomputer – The information technology company’s stock rose more than 2% after Rosenblatt nearly doubled its price target, with the stock expected to rise 62% in the coming days. Rosenblatt’s price target is currently at the top of Wall Street’s stock forecasts. Walmart – Shares rose about 3% after the retail giant reported fourth-quarter adjusted earnings per share of $1.80, beating the $1.65 expected by analysts surveyed by LSEG (formerly Refinitiv) I did. Revenue also exceeded expectations. Additionally, Walmart announced that it would acquire television maker Vizio for $2.3 billion. Caterpillar – Shares fell 2% after a downgrade from Evercore ISI, which cited concerns about longer-term earnings growth prospects than expected. Medtronic – Shares rose about 4% after the medical device company beat Wall Street expectations with third-quarter sales and bottom line earnings. The company announced a better-than-expected full-year earnings outlook, with Medtronic now expecting a range of $5.19 to $5.21 per share. Analysts polled by FactSet had expected $5.16. US Foods – Piper Sandler upgraded the food company from neutral to overweight after saying it sees a “relatively clear path” to the stock reaching the high $50s or low $60s. The stock rose 1.4%. Analyst Brian Mullan raised his price target on US Foods stock to $59 from $45, up about 19% from Friday’s closing price of $49.58. Intel – The chipmaker’s stock rose 3.3% on news that the Biden administration is in talks to award more than $10 billion in Chip Act subsidies in the coming weeks. The funding will come from a $39 billion grant and a $75 billion loan pool, Bloomberg reported. Capital One, Discover Financial Services – Discover stock soars more than 14% on news that the company will be acquired by fellow credit card and banking company Capital One in an all-stock deal worth his $35.3 billion. did. Capital One stock fell more than 4%. Arm Holdings – Shares of the semiconductor maker fell about 4% as investors withdrew bets on the stock after a massive rally. Arm’s stock price soared about 81% in February alone. CNBC’s Pia Singh, Sarah Min, Michelle Fox and Jesse Pound contributed reporting.
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