US PRE-MARKET MOVERS: Samsung Electronics/MU/SNDK, NVDA, RBLX, TOL, LOW, ADI, TJX, ETSY, CI, TGT

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Daily US Equity Opening News - China last week banned NVDA RTX 5090D V2 imports; KEYS beat-and-raise

Intuit (INTU) reportedly considers laying off approximately 17% of its workforce, according to reports

US PRE-MARKET MOVERS: Samsung Electronics/MU/SNDK, NVDA, RBLX, TOL, LOW, ADI, TJX, ETSY, CI, TGT

Target (TGT) exec. notes that they were encouraged by Q1, but it saw the easiest Y/Y comparison for the current FY and Q2 will see the hardest comparison, a near 2pp difference.

Micron (MU) says its financial outlook has strengthened since last earnings call and is on track for another substantial record FCF in Q3

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ES +0.4% NQ +0.8% RTY +0.7%

  • Samsung Electronics’ largest union will begin an 18-day strike on 21st May after wage talks collapsed; MU +3.7% SNDK +2.5%
  • MU at a conference said its financial outlook has strengthened since last earnings call &on track for another substantial record FCF in Q3
  • NVDA +1.6%: Earnings AMC; China last week banned NVDA RTX 5090D V2 imports
  • RBLX +3%: Authorised share buyback of up to $3bln
  • TOL +3%: Profit & rev. beat
  • LOW -2%: Midpoint FY guidance light
  • ADI -1.2%: Confirmed that it has agreed to acquire Empower Semiconductor for $1.5bln in cash; note, strong Q metrics & guidance
  • TJX +4.5%: EPS, rev. & comp. sales topped
  • ETSY +3.3%: Upgraded at Arete 
  • CI -0.8%: Downgraded at Deutsche Bank
  • TGT -2.5%: Solid Q report, but tone of comments in conference call was cautious

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