U.S. stock indexes wavered and bond yields rose in the wake of Jerome Powell’s nomination to continue as Federal Reserve chairman. Here’s what we’re watching in Tuesday’s trading:
- Zoom Video Communications reported that sales growth slowed last quarter as more people returned to the office.
- Best Buy posted lackluster sales growth heading into the holiday season. The firm was one of the few large chains unable to capitalize on high consumer demand for electronics and other goods.
- Urban Outfitters said in-store sales fell in the third quarter.
- Dick’s Sporting Goods logged slower online growth as more people returned to stores.
- Dollar Tree ’s third-quarter earnings and sales results were in line with analysts’ expectations. Activist investor Mantle Ridge has a stake of at least $1.8 billion in the discount retailer and plans to push it to take action to boost its share price, The Wall Street Journal reported this month.
- Dell Technologies , HP and VMware are among the companies reporting earnings after the close.
- Royalty Pharma said it had bought additional royalty interests in BCX9930 and Orladeyo from BioCryst Pharmaceuticals.
- Farfetch shares ticked up after Guggenheim analysts recommended buying stock of the fashion retailer.
- J.M. Smucker raised its forecast for earnings in fiscal 2022.
- Laboratory equipment maker Agilent Technologies posted higher profit in its fourth quarter.
- Goldman Sachs analysts recommended selling shares of Allstate .
