Home Depot and Nvidia fall premarket; Axalta Coating Systems gains

Investing.com -- U.S. stock futures slipped lower Tuesday, with traders cautious ahead of eagerly-anticipated earnings from AI-darling Nvidia as well as key employment data.

Here are some of the biggest premarket U.S. stock movers today:

• Home Depot (NYSE:HD) stock slipped 3.6% after the world’s largest home improvement retailer reported third-quarter adjusted earnings that fell short of analyst expectations, despite posting revenue that exceeded forecasts.

• Nvidia (NASDAQ:NVDA) stock fell 0.9% ahead of the chipmaker’s quarterly earnings report, which could trigger a $320 billion swing in the chipmaker’s market value — the largest post-earnings move ever for the AI giant.

• Alphabet (NASDAQ:GOOGL) stock gained 0.3% despite CEO Sundar Pichai saying in an interview with the BBC published on Tuesday that no company would be unscathed if the AI boom collapses.

• Axalta Coating Systems (NYSE:AXTA) stock gained 7.7% after Akzo Nobel (AS:AKZO) said it will acquire its U.S.-based peer in a $9.2 billion all-stock transaction aimed at creating a global major in the paints and coatings industry.

• PDD Holdings (NASDAQ:PDD) stock fell 3.2% depsite the Chinese retail giant reported a 9% jump in quarterly revenue, in a sign the value-focused e-commerce firm’s moves to slash prices and offer steep discounts were bolstering demand in its home market.

• Alibaba (NYSE:BABA) stock gained 0.5% after the Chinese online marketplace launched a major upgrade to its AI chatbot, marking an aggressive push into the consumer artificial intelligence market where it has lagged rivals.

• Baidu (NASDAQ:BIDU) stock rose 0.3% after the Chinese internet giant reported better-than-expected third-quarter profit and revenue as its cloud business continued to grow at a rapid pace.

• Barrick Mining (NYSE:B) stock gained 2.6% after the Financial Times reported that Elliott Management has built a “large” stake in the gold miner.