Check out the companies making headlines in premarket trading:
La-Z-Boy — Shares jumped more than 9% after La-Z-Boy’s latest quarterly results beat expectations. The furniture company posted fiscal fourth-quarter adjusted earnings of 95 cents per share on revenue of $554 million. Analysts polled by LSEG anticipated earnings of 70 cents per share on revenue of $516 million.
Semiconductor stocks — Chip stocks were higher on Tuesday, adding to the outperformance seen in recent days. Shares of Broadcom soared more than 3%, while Qualcomm and Micron Technology advanced more than 2% each. Nvidia traded less than 1% higher after Wells Fargo raised its price target on the de facto market leader.
NextEra Energy — Shares of the utilities firm pulled back nearly 5% after the company said it planned to sell roughly $2 billion worth of equity units at $50 each. The units will comprise both a 5% undivided ownership stake in NextEra Energy Capital Holdings as well as a contract to purchase NextEra stock by June 1, 2027.
Kroger — Shares added 1.7% following an upgrade from BMO Capital Markets to outperform from market perform. The firm believes the recent pullback has created an attractive entry point for the grocery chain.
Lennar — Shares of the homebuilder slid 3.5% despite stronger-than-expected results for the second quarter. Lennar reported $3.45 in earnings per share on $8.77 billion of revenue. Analysts surveyed by LSEG were expecting $3.24 in earnings per share on $8.52 billion of revenue. Some Wall Street analysts pointed to Lennar’s third-quarter guidance as an issue, which included a projection for new orders to decline quarter over quarter.
