2023-05-24 09:15:43 ET
The futures are pointing to a mild dip at the start of Wednesday's trading, as investors look ahead to the minutes of the latest Federal Reserve meeting, set for release during the afternoon. Here are some stocks to watch on Wednesday:
- Rocket Lab ( RKLB ) edged up in premarket trading after the company was selected as the successful bidder for certain assets from Virgin Orbit (VORB). RKLB is buying some aerospace production and manufacturing assets from the bankrupt satellite launch company for about $16.1M. RKLB advanced about 2% before the opening bell.
- The release of quarterly results sent Kohl's ( NYSE: KSS ) sharply higher in premarket trading, with shares jumping more than 12%. The retailer beat expectations with its Q1 earnings and reaffirmed its guidance for the year. In the latest quarter, sales dropped 3.3% to $3.4B, with comparable store sales slumping 4.3%.
- Intuit ( INTU ) retreated in the wake of its quarterly results , falling about 5% in premarket action. This came as the maker of the TurboTax tax preparation software missed consensus with its Q3 revenue. The company raised its full-year earnings forecast, but gave a Q4 prediction that came in below what analysts were projecting.
- Nvidia ( NVDA ) is scheduled to release its quarterly results after the closing bell. The computer chip maker is projected to earn $0.92 per share, with a revenue target of $6.52B. NVDA has seen a wave of optimism in 2023, with the stock more than doubling so far this year.
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4 stocks to watch on Wednesday: Kohl's, Intuit and more