Stock index futures saw an uptick on Monday as investors geared up for a strong start to the holiday-shortened trading week on Wall Street. Attention focused on four major stocks—Zoom Video Communications (ZM), Amazon.com (AMZN), Walmart (WMT), and Marvell Technology (MRVL)—amid various earnings reports, regulatory investigations, and expansion news.
Zoom Video Communications is poised to unveil its third-quarter earnings results after the market closes on Monday, with analysts forecasting a modest rebound in performance. Earnings per share are expected to be around $1.44, while revenue is projected to hit $1.21 billion. This report is particularly significant for investors keen on the company’s recovery trajectory in the video conferencing sector.
Meanwhile, Amazon.com experienced a 0.9 percent increase in its stock price during premarket trading, despite reports of Italian police conducting searches at two of its facilities. The investigations by the Guardia di Finanza, which aimed to uncover alleged smuggling operations involving Chinese goods, did not deter investors, perhaps indicating confidence in the company’s long-term stability.
Walmart also saw its shares rise by 0.3 percent in premarket activity after announcing the opening of its first branded store in South Africa. This marks a significant step as the company directly enters the African retail market, establishing a presence in Roodepoort, situated west of Johannesburg. Walmart had previously been active in South Africa through its ownership of Massmart but is now taking a more direct approach.
Lastly, Marvell Technology’s stock increased by 1.3 percent in premarket trading following a Hold rating and a price target of $85 from HSBC Global Investment Research. Analysts led by Frank Lee noted promising growth in the AI optical segment, which is helping to buffer concerns related to its application-specific integrated circuits business, firmly positioning Marvell as an emerging player in the artificial intelligence space.
Overall, these developments reflect a cautiously optimistic sentiment among investors as they navigate earnings reports and regulatory landscapes. The market appears poised for potential gains, showcasing resilience across major players in the tech and retail sectors.