The stock market is set for a lower open on Tuesday as investors digest the latest tariff headlines and await key inflation data and testimony from Federal Reserve Chair Jerome Powell. DuPont reported a strong fourth quarter, with revenue of $3.1 billion beating the $3.07 billion consensus and adjusted earnings per share of $1.13 topping the 98-cent estimate. The company remains on track for an electronics spin-off on November 1 and guided fiscal 2025 first-quarter adjusted EPS to 95 cents versus the expected 93 cents.
The stock rose more than 5%. Coca-Cola also posted both top and bottom line beats, with revenue of $11.54 billion versus the $10.68 billion expected and earnings per share of 55 cents, beating estimates by 3 cents. Volumes were up 2%, and the stock gained more than 3%.
In other earnings news, Shopify beat estimates for its fourth quarter, with revenue up 31% to $2.81 billion versus the $2.73 billion expected and an EPS of 99 cents blowing away the 34-cent estimate.
stocks open lower amid earnings updates
On the analyst front, First Solar was upgraded to a buy-equivalent “outperform” at Mizuho, which also boosted its price target to $259 per share.
KeyBanc upgraded Monday.com to a buy-equivalent “overweight,” and many Wall Street firms raised their price targets on the software stock after strong earnings boosted it up almost 26.5% in the prior session. CrowdStrike and Palo Alto Networks also saw their price targets raised at KeyBanc, with the analysts citing strong channel and partner checks ahead of earnings. IBM started with a buy-equivalent “outperform” rating at Oppenheimer with a $320-per-share price target.
In other corporate news, a group of investors led by Elon Musk made a $97.4 billion bid for control of OpenAI on Monday, but the offer was rejected by CEO Sam Altman. President Donald Trump also introduced his plan to levy a 25% tariff on steel and aluminum imports, set to take effect on March 4. Federal Reserve Chair Jerome Powell will testify before Congress on Tuesday morning, beginning two days of semiannual hearings on monetary policy on Capitol Hill.
The hearing comes as President Trump continues to send mixed messages about the Federal Reserve’s policies in his public statements.