By Joe Woelfel

Stock futures rose Tuesday following a report that said President-elect Donald Trump may take a more restrained approach to raising tariffs in a move aimed at preventing sharp spikes in inflation.

These stocks were poised to make moves Tuesday:

Nvidia was up 2% in premarket trading, rebounding from Monday's decline of 2% after the Biden administration outlined new rules that impose caps on how many advanced AI chips can be exported to certain countries, along with additional licensing requirements for AI technology. As Barron's has reported, the incoming Trump administration could revoke or change the rules. Micron Technology, which fell 4.3% on Monday, also rebounded and was trading up 1.9% in premarket trading.

Palantir Technologies gained 3.5% in premarket trading to $67.27. Shares of the AI software company fell 3.4% on Monday and have declined 14% this year after soaring 340% in 2024. Analysts at Jefferies late Monday said the stock may face more downside on multiple compression risks. The firm maintained an Underweight rating on Palantir with a price target of $28.

KB Home jumped 9% in premarket trading after the home builder posted fourth-quarter earnings that rose from a year earlier as revenue jumped to $2 billion. Net orders in the period soared 41% as "buyers continued to demonstrate a desire for homeownership and housing market conditions improved relative to last year, despite ongoing mortgage interest rate headwinds," KBH said.

ServiceTitan, a software platform for trade businesses, reported a fiscal third-quarter loss of $1.74 a share, wider than a loss of $1.53 a year earlier. Revenue rose 24% to $199.3 million and topped analysts' estimates of $198.5 million. It was the company's first earnings report since going public in December. The stock fell 3.1% in after-hours trading Monday.

IAC, the Barry Diller-backed conglomerate, said its board approved the spinoff of Angi, the home-services unit formerly known as Angie's List that IAC bought in 2017. As part of the plan, IAC said Chief Executive Joey Levin will step down and become an advisor to the company. Levin also will be appointed executive chairman of Angi following the completion of the spinoff. IAC shares were inactive in premarket trading while Angi stock jumped 9%.

Aehr Test Systems slumped 21% after the maker of test systems for sensors and semiconductors swung to a fiscal second-quarter loss and said that growth in silicon carbide sales outside of China should remain challenging before recovering in 2026.

Earnings reports are expected Tuesday from Applied Digital and Calavo Growers.

Write to Joe Woelfel at joseph.woelfel@barrons.com

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January 14, 2025 05:11 ET (10:11 GMT)

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