PLAY - 5 stocks to watch on Tuesday: Apple Mobileye J. M. Smucker and more

2023-06-06 08:31:24 ET

Stocks lacked direction headed into Tuesday's trading following a mild drop the previous day. Oil prices are in focus after Saudi Arabia promised a cut in crude output following a recent OPEC+ meeting. Here are some stocks to watch on Tuesday:

• Apple ( NASDAQ: AAPL ) issued a series of product announcements at its Worldwide Developers Conference Monday, including its biggest launch in nearly a decade. The iPhone maker officially unveiled an augmented reality/virtual reality offering called the Vision Pro headset. AAPL also disclosed new health features in iOS 17, iPadOS 17, and watchOS 10.
• Mobileye Global ( MBLY ) lost ground in premarket trading, dragged down by news that a unit of its former parent Intel ( INTC ) was planning a secondary stock offering . The transaction involves 35M shares being sold by Intel Overseas Funding Corporation. MBLY stated that it is not selling any shares and will not receive proceeds from the offering. Shares slipped almost 6% before the opening bell.
• The release of quarterly results sparked gains in HealthEquity ( HQY ), which surged 6% in premarket action. The provider of healthcare savings accounts topped projections with its Q1 earnings, boosted by revenue that climbed 19% from last year. For the full year, HQY predicted revenue between $975M-$985M.
• J. M. Smucker ( SJM ) reported Q4 EPS of $2.64, topping projections by $0.23. Revenue rose 10% to reach $2.23B. Looking ahead, the packaged food maker estimated full-year adjusted EPS of $9.20-$9.60, with comparable net sales that it sees rising 8.5%-9.5%.
• Dave & Buster's ( PLAY ) is slated to release its quarterly results after the closing bell. The arcade chain is projected to earn $1.28 per share, with revenue predicted to rise to $604M. Shares of PLAY has retreated 10% so far in 2023.

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