Among the Tuesday stocks to watch, MSFT (NASDAQ:MSFT) was trading at $237.82 as of 02:39 PM EDT.
With equities appearing set to continue the rebound that characterized the action on Monday, the buy-the-dip strategy was still popular in Tuesday’s premarket trading. The session’s most visible driver came from the escalating rate of incoming earnings announcements.
These Stocks to Watch on Tuesday:
- 1,000 employees will reportedly be let go as part of Microsoft’s (NASDAQ:MSFT) cost-cutting initiative. The job losses affect several divisions, according to the Wall Street Journal.
- In premarket trade, Target (NYSE:TGT) increased following an analyst upgrade. With inventories starting to decrease, Jefferies upgraded the retailer’s rating from Hold to Buy, noting that the company is beginning to resolve its margin problems. Before the opening bell, TGT increased by almost 3%.
- With revenue up 2% to $23.8 billion in the third quarter, Johnson & Johnson (NYSE:JNJ) reported earnings that exceeded forecasts. The corporation did, however, update its 2022 guidance, citing the effects of inflation and foreign exchange. Compared to its previous projection of $10.00-$10.10, JNJ now anticipates adjusted EPS in 2022 of $10.02–$10.07.
- Both the top and bottom lines of Goldman Sachs’ (NYSE:GS) third-quarter results exceeded forecasts. As a result of concerns about the macroeconomic outlook globally, the company reported that its provision for credit losses increased to $515 million from $175 million at the same time last year.
- A mixed earnings report from Lockheed Martin (NYSE:LMT) was released. While earnings exceeded forecasts, revenue fell short of estimates. $16.6B was the total revenue, up 3.4%. This fell $110 million short of analyst consensus.
Consider the potential impact on American markets of the ongoing debate over the Bank of
England’s quantitative tightening by looking elsewhere. Check out the top 5 Stocks To Watch On Monday: Apple, Bank Of America, Splunk, And More.
Featured Image- Megapixl @ Boggy
Author Jowi Kwasu 
