In early trading on Tuesday, the Dow Jones industrials were down 0.21% and the S&P 500 down 0.05%, but the Nasdaq was 0.02% higher.
After U.S. markets closed Monday, Canoo reported a smaller-than-expected adjusted loss per share and, as expected, reported no revenue. The company reported $69.7 million in cash and equivalents as of Monday and projected second-quarter operating expenses of $40 to $60 million and capital expenditures of $10 million to $20 million. Shares traded up nearly 19% early Tuesday.
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Nu Holdings handily beat the consensus earnings per share (EPS) and revenue estimates. According to Monday’s Form 13-F filing, Berkshire Hathaway maintained its stake of about 107 million shares in Nu Holdings. Shares of the Brazilian fintech firm traded up 6%.
Before U.S. markets opened on Tuesday, Home Depot beat the consensus EPS estimate by a penny and missed on revenue. Sales were 4.2% below the year-ago quarter’s level. Home Depot also issued downside fiscal-year EPS and revenue guidance. Same-store sales are expected to decline by 2% to 5%. Shares traded down 2.5%.
iQIYI just beat the consensus revenue estimate and met the adjusted EPS estimate. The stock traded down 7.4%.
Sea Limited reported a big miss on the consensus EPS estimate and revenue that was higher than expected. Revenue increased by 4.9% year over year. Shares traded down more than 13%.
Tencent Music beat estimates on both the top and bottom lines. Shares traded down 8.5% nonetheless.
After U.S. markets close on Tuesday or before they open on Wednesday, Kyndryl, Star Bulk Carriers, Target and TJX Companies are scheduled to report quarterly results.
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