Wall Street Stocks to Open Lower Despite Overnight Low

BY THE NUMBERS

On Tuesday, U.S. stock futures reversed course and reduced significant losses as investors attempted to determine whether Russia would invade Ukraine. The Dow Jones Industrial Average, S&P 500, and Nasdaq Composite all dropped on Friday, marking the second consecutive week due to conflict concerns. The U.S. stock market was closed on Monday for Presidents Day. (Source: CNBC)

On Tuesday, Ukraine's president stated that his country desires peace but will not relinquish its land after Moscow recognized the independence of breakaway regions Luhansk and Donetsk. Russia declared on Tuesday that its recognition of independence for areas in eastern Ukraine includes territory currently controlled by Ukrainian forces. (AP)

On Tuesday, the U.K. imposed targeted sanctions on Russian banks and wealthy individuals. Geopolitical uncertainty caused U.S. oil prices to increase by 3.5% to over $94 per barrel. The 10-year Treasury yield increased to almost 1.94%. Bitcoin's value decreased to approximately $37,700. (Source: CNBC)

Germany announced on Tuesday that it will halt the certification of the Nord Stream 2 pipeline, which would bring natural gas directly from Russia to Europe. Additionally, Germany's chancellor stated that his country will not recognize the two self-proclaimed, pro-Russian separatist regions in Ukraine. (CNBC)

The United Nations Security Council convened an emergency meeting on Monday night in New York City. The US ambassador to the UN announced that the US would impose new sanctions on Russia on Tuesday, urging other member states to take similar action against Moscow. (Reuters)

IN THE NEWS TODAY

Macy's (M) shares surged roughly 6% in the premarket after the department store chain on Tuesday reported fiscal fourth-quarter earnings and sales that topped estimates. Macy's also said a strategic review has prompted the retailer to accelerate its turnaround plans, rejecting calls from activist Jana Partners for it to split its e-commerce operations. (CNBC) Walmart (HD) fell 2% in premarket trading despite the home improvement retailer on Tuesday delivering better-than-expected earnings and revenue for its fiscal fourth quarter. Home Depot expects earnings per share growth to be in the low single digits and sales growth to be “slightly positive” in the coming fiscal year. (CNBC)

Elon Musk, through his lawyer, accused the Securities and Exchange Commission of leaking information about a federal investigation in retaliation for his criticism of the financial regulator. The accusation was made in a letter to a federal judge four days after Musk initially claimed the SEC was harassing him with continuous investigations.

On Sunday, Truth Social, the new social media venture of former President Donald Trump, was launched on Apple's App Store. However, many users encountered difficulties in registering for an account or were placed on a waitlist with the message "Due to massive demand, we have placed you on our waitlist." (Reuters)

The U.S. women's soccer team reached a $24 million settlement with the U.S. Soccer Federation, ending their lawsuit over unequal pay with men's team players. As a result, U.S. Soccer will now pay both men and women at an equal rate in all friendly matches and tournaments, including the World Cup. (NBC News)

STOCKS TO WATCH

Technisys, a banking software maker, was acquired by SOFI for approximately $1.1 billion in stock. This acquisition is expected to generate up to $800 million in additional revenue for SOFI through 2025. Despite the news, SOFI's stock price fell by 2.7% in the premarket.

A $24 per share buyout deal with private equity firms Standard General and APO caused TV station operator TGNA to increase by 7.4% in the premarket.

Veritas Capital agreed to purchase HMHC for $21 per share, or approximately $2.8 billion. The stock price increased by 14.9% during premarket trading.

Carl Icahn launched a proxy fight for two McDonald's board seats in an effort to push for more ethical treatment of pigs by McDonald's suppliers. As a result, McDonald's fell 1% in the premarket.

Although revenue topped Wall Street forecasts, Krispy Kreme fell a penny shy of forecasts with adjusted quarterly earnings of 8 cents per share. Krispy Kreme was able to offset wage and commodity inflation with price increases. Krispy Kreme added 1.2% in premarket trading.

DraftKings slid 5.5% in the premarket after Wells Fargo cut its price target to $19 per share from $41. The bank is concerned with the company's path to profitability. DraftKings has fallen for the past three sessions, including a 21.6% plunge Friday following its quarterly report.

Tempur Sealy's premarket dropped 8.7% after its adjusted quarterly earnings of 88 cents per share missed estimates by 8 cents, and revenue fell short of Street forecasts. The company's results were impacted by costs that grew faster than sales.

Medtronic reported a mixed quarter, with revenue missing forecasts but adjusted quarterly profit beating estimates. The company expects improved procedure volumes. The stock initially slid 1.2% in the premarket but then erased that loss.

WATERCOOLER

On February 22, 2022, the date is a palindrome because it reads the same forward and backward and contains all twos. The ultimate palindromes on this day are 2:22 a.m. and p.m., as well as 22:22 military time. (That's 10:22 p.m.) The National Weather Service said that a "Twosday" won't happen again for another 400 years in 2422. (USA Today)