Check out the companies making headlines in premarket trading. Home Depot – Shares slipped about 2.5% after the retailer beat its fiscal fourth-quarter estimates on the top and bottom lines, but issued lower-than-expected guidance. The company forecast full-year revenue growth of 1%, while analysts polled by FactSet expected 1.6%. Net income and sales also fell during the quarter. Super Micro Computer — Stock in the information technology company climbed more than 2% after Rosenblatt nearly doubled his price target, calling for a 62% upside going forward. Rosenblatt’s price target is now the highest forecast for the stock on Wall Street. Walmart – Shares added about 3% after the retail giant reported fourth-quarter adjusted earnings of $1.80 per share, beating the $1.65 expected by analysts polled by LSEG. Revenue also exceeded expectations. In addition, Walmart announced that it will acquire television manufacturer Vizio for $2.3 billion. Caterpillar – Shares retreated 2% after falling to in-line from Evercore ISI, which noted concern over a longer-than-expected outlook for earnings growth. Medtronic – Shares gained about 4% after the medical device company beat Wall Street expectations on the top and bottom lines in the third quarter. The company issued higher-than-expected full-year earnings guidance, with Medtronic now forecasting a range of $5.19 to $5.21 per share. Analysts polled by FactSet had expected $5.16. US Foods – Shares rose 1.4% after Piper Sandler upgraded the food company to overweight from neutral, saying it sees a “relatively clear path” for the stock to hit the high $50s or low $60s. Analyst Brian Mullan raised his price target on US Foods to $59 from $45, or about 19% upside from Friday’s closing price of $49.58. Intel – Shares of the chip maker gained 3.3% on news that the Biden Administration is in talks to give it more than $10 billion in Chips Act grants in the coming weeks. The money will come from a mix of a $39 billion grant and a $75 billion loan, according to a Bloomberg report. Capital One , Discover Financial Services — Shares of Discover soared more than 14% on news that the company would be acquired by peer credit card and banking firm Capital One in an all-stock deal worth $35.3 billion. Capital One stock retreated more than 4%. Arm Holdings — Shares in the chipmaker slipped about 4% as investors pulled back bets on the stock after its massive rally. Arm shares soared about 81% in February alone. – CNBC’s Pia Singh, Sarah Min, Michelle Fox and Jesse Pound contributed reporting
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