Zoom, Urban Outfitters, Royalty Pharma: What to Watch When the Stock Market Opens Today

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U.S. stock futures edged down and bond yields rose in the wake of Jerome Powell’s nomination to continue as Federal Reserve chairman. Here’s what we’re watching ahead of Tuesday’s opening bell.

  • Zoom Video Communications dropped almost 9% in premarket trading. Sales growth slowed last quarter as more people returned to the office.
  • Urban Outfitters shares tumbled 12% after the clothes company said in-store sales fell in the third quarter.
  • Agilent Technologies slipped 3% even though the maker of laboratory equipment posted higher profits in its fourth quarter.
  • Royalty Pharma rose 3.1% after the buyer of biopharmaceutical royalties said it had bought additional royalty interests in BCX9930 and Orladeyo from BioCryst Pharmaceuticals.
  • Dell Technologies, HP, Abercrombie & Fitch, VMware and Dollar Tree are among the companies reporting earnings.
  • Goldman Sachs Group analysts recommended selling shares of Allstate, sending the insurer down 2.7%.
  • VTB Capital analysts recommended buying shares of EPAM Systems, boosting the software company 1.8% premarket.
  • Aptiv lost 3.1%. Analysts at Barclays, Raymond James and Credit Suisse have raised their stock price target for the maker of auto parts this month.
  • PG&E rose 1.9% premarket. Shares of the Californian utility have edged higher since August.

Write to Joe Wallace at joe.wallace@wsj.com

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