Deere, Foot Locker, Applied Materials, Farfetch, Alibaba, Palantir, and More Stock Movers

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Stock futures posted modest gains Friday, a day after the

S&P 500
closed at its highest level since August 2022 as Wall Street cheered progress in U.S. debt-ceiling negotiations.

These stocks were poised to make moves Friday: 

Deere

(DE) reported fiscal second-quarter earnings of $9.65 a share, topping analysts’ estimates, and said sales in the period jumped 30% to $17.4 billion, which also beat forecasts.

Deere

shares rose 3.3% in premarket trading.

Foot Locker

(FL) stock was falling 21% after the footwear retailer slashed its fiscal-year earnings outlook after first-quarter earnings and sales missed analysts’ estimates.

Applied Materials

(AMAT) reported fiscal second-quarter earnings that beat Wall Street’s expectations, but the outlook from the semiconductor-manufacturing equipment maker failed to excite investors and the stock was down 1.8% in premarket trading.

Applied Materials

said the major consumer electronic markets, including PCs and smartphones, have remained weak. 

Farfetch

(FTCH) surged 22% in premarket trading after the luxury fashion company reported a narrower-than-expected first-quarter loss and sales rose 8% to $556.4 million, higher than analysts’ forecasts.

Shares of

Palantir Technologies

(PLTR) rose 1.7% in premarket trading. The stock gained nearly 15% on Thursday after Cathie Wood’s ARK Investment disclosed that several of its funds on Wednesday purchased a total of 1.26 million shares in the analytics software company. ARK purchased another 287,000

Palantir

shares on Thursday.

American depositary receipts of

Alibaba

(BABA) fell 1.6% in premarket trading, extending losses from the previous session when the ADRs declined more than 5% after the Chinese e-commerce giant said it would spin off its prized cloud division. Revenue in the cloud division disappointed in the fiscal fourth quarter, falling 2% year over year to $2.71 billion, shy of analysts’ expectations.

Occidental Petroleum

(OXY) was rising 1% in premarket trading.

Berkshire Hathaway

(BRK.A) bought about 3.5 million shares of Occidental at a price of $58 on Tuesday, Wednesday and Thursday, raising its interest to 217.3 million shares, or 24.4% of the company, according to filing released late Thursday.

First-quarter sales of $4.49 billion at

Ross Stores

(ROST) rose from a year earlier but the off-price retailer said same-store sales for the second quarter and fiscal year would be flat from the year-earlier periods. Ross shares declined 0.4%.

Walt Disney

(DIS) shares fell 1% after the entertainment giant said it was dropping plans to build a sprawling business campus near Orlando. Josh D’Amaro, chairman of Disney parks, experiences, and products, said in a memo to staff that the company no longer plans to build the Lake Nona campus due to “considerable changes that have occurred since the announcement of this project, including new leadership and changing business conditions.”

Nvidia

(NVDA) was down 0.2% to $316.10 in premarket trading. Shares of the graphics chip maker closed up nearly 5% on Thursday. During the trading session the stock had risen to as high as $318.28, just off its all-time close of $333.76 set in November 2021. Boosting the stock Thursday was the unveiling of new graphics cards featuring the company’s Ada Lovelace architecture.