Check out the companies making headlines during pre-market trading. Home Depot — Shares of Home Depot fell about 2.5% after the retailer beat expectations for fiscal fourth-quarter revenue and profit but issued lower-than-expected guidance. The company expects full-year revenue to grow 1%, while analysts polled by FactSet expected 1.6%. Net income and sales also declined for the full quarter. Super Micro Computer — Shares of the information technology company rose more than 2% after Rosenblatt nearly doubled its price target, predicting future gains of 62%. Rosenblatt’s price target is currently Wall Street’s highest forecast for the stock. Walmart — The retail giant reported fourth-quarter adjusted earnings of $1.80 per share, beating the $1.65 forecast by analysts surveyed by LSEG (formerly Refinitiv), sending its shares up about 3%. Revenue also beat expectations. In addition, Walmart announced that it will acquire TV manufacturer Vizio for $2.3 billion. Caterpillar — Shares fell 2% on an Evercore ISI downgrade, with the company citing concerns over earnings growth prospects that exceeded expectations. Medtronic — Shares of Medtronic rose about 4% after the medical device company beat Wall Street estimates for third-quarter revenue and profit. The company issued higher-than-expected full-year profit guidance, with Medtronic now forecasting earnings of $5.19 to $5.21 per share. Analysts polled by FactSet expected $5.16. American Foods – Piper Sandler upgraded the food company to Overweight from Neutral, saying it sees a “relatively clear path” for the stock to hit over $50 Highs or lows in the mid-$60s, the company’s shares were up 1.4%. Analyst Brian Mullan raised his price target on American Foods to $59 from $45, which would be about 19% higher than Friday’s closing price of $49.58. Intel — Shares of the chip maker rose 3.3% on news that the Biden administration is negotiating to provide it with more than $10 billion in Chip Act subsidies in the coming weeks. The funding will come from a pool of $39 billion in grants and $75 billion in loans, according to Bloomberg. Capital One and Discover Financial Services — Shares of Discover surged 14% on news that the company will be acquired by fellow credit card and banking company Capital One in an all-stock deal worth $35.3 billion. % above. Capital One stock retraced more than 4%. Arm Holdings – Shares of the chipmaker fell about 4% as investors withdrew their bets on the stock after a sharp rally. In February alone, Arm’s stock price soared by about 81%. —CNBC’s Pia Singh, Sarah Min, Michelle Fox and Jesse Pound contributed reporting.
