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

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

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