Lowe’s, Zoom Video, Tesla, Fabrinet, Baidu, and More Stock Market Movers

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Stock futures traded higher Tuesday following a rally in tech shares that put an end to four-session losing streaks for the

S&P 500
and

Nasdaq Composite.
Treasuries steadied Tuesday after the yield on the 10-year Treasury reached its highest level since November 2007 on Monday.

These stocks were poised to make moves Tuesday: 

Lowe’s

(LOW) reported second-quarter earnings of $4.56 a share, beating Wall Street forecasts of $4.47 a share. Comparable-store sales fell 1.6% in quarter, narrower than the 2.6% drop expected by analysts. The home-improvement retailer stuck to its fiscal-year guidance, citing a strong spring recovery. The stock rose 3.4% premarket trading.

Shares of

Zoom Video Communications

(ZM) rose 3.3% in premarket trading after the videoconferencing company’s adjusted second-quarter earnings and revenue beat analysts’ expectations. Zoom Video’s forecasts for the third quarter and year also topped estimates. The company also touted new artificial-intelligence features. “We continue to innovate and expand our platform to help bring value and enhanced productivity to our customers with new AI features like Zoom IQ Meeting Summary and Team Chat Compose,” CEO Eric Yuan said in a statement.

Tesla

(TSLA) was rising 3.5% in premarket trading after closing 7.3% higher on Tuesday and snapping a losing streak of six consecutive days. Lifting the stock was a note from Baird analyst Ben Kallo, who put the electric-vehicle maker on its list of “best ideas” following second-quarter earnings. Kallo sees several catalysts ahead in the coming months for

Tesla
.

Fabrinet

(FN), the high-tech manufacturing services company, issued a fiscal first-quarter forecast that was better than expectations. Fourth-quarter adjusted earnings and sales also topped estimates, with

Fabrinet

saying it saw “very strong growth in datacom revenue, driven by new AI products.” The stock jumped 20% in premarket trading.

U.S.-listed shares of

Baidu

(BIDU) were rising 4.2% in premarket trading after the Chinese tech giant reported quarterly earnings that beat analysts’ expectations.

Nordson

(NDSN) reported fiscal third-quarter earnings and revenue that fell from a year earlier, with the industrial automation company citing “persisting demand weakness in electronics and biopharma end markets.” The company also reduced its revenue outlook for the fiscal year. Shares fell 3.5%.

Microsoft

(MSFT) and 

Activision Blizzard

 (ATVI) submitted a new deal to U.K. regulators in a bid to gain approval for their $75 billion merger. As part of the deal,

Microsoft

would sell the non-European streaming rights to Activision games to Assassin’s Creed publisher 

Ubisoft

 (UBI.Paris). Microsoft won’t be able to acquire the rights for the next 15 years, according to the U.K.’s Competition and Markets Authority, which said the restructured deal will be investigated with a decision to be made by Oct. 18. Microsoft was up 0.6%, while Activision shares gained 1.1%.

Write to Joe Woelfel at joseph.woelfel@barrons.com