MCK - 5 stocks to watch on Tuesday: PayPal McKesson and more

2023-05-09 08:37:02 ET

Renewed selling pressure on regional bank stocks weighed on the futures before the opening bell on Tuesday. This followed a mixed performance the previous day. Here are some stocks to watch on Tuesday:

• PayPal ( NASDAQ: PYPL ) dropped 5% in premarket trading after the payment processor included soft Q2 guidance in its quarterly update. For Q1, PYPL surpassed projections with its bottom-line total. Looking ahead, the company predicted Q2 adjusted EPS of $1.15-$1.17, compared to analysts' consensus of $1.17.
• McKesson ( MCK ) saw strength in premarket trading following the release of its quarterly results. The spice producer beat expectations with its top and bottom lines, with revenue that rose 4% to $68.9B. For the full year, the company projected adjusted EPS of $26.10-$26.90.
• The announcement of quarterly results spurred premarket selling in Plug Power ( PLUG ). This came as the green energy company disclosed a wider-than-expected loss. The firm's revenue rose 49% to $210M. Shares dropped more than 7% on the news.
• Lucid Group ( LCID ) slumped more than 9% before the opening bell after its Q1 revenue total came in below expectations. The EV maker said it was on track to produce over 10,000 vehicles in 2023 after producing 2,314 vehicles at its Arizona manufacturing facility during Q1.
• Airbnb ( ABNB ) is scheduled to report its quarterly results after the closing bell. Analysts expect the short-term property rental platform to earn $0.16 per share. Revenue is projected to climb 19% to $1.79B.

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