Stocks making the biggest moves premarket: La-Z-Boy, NextEra Energy, Kroger, Lennar and more

Here is a look into companies making waves in premarket trading.

La-Z-Boy shares saw a significant surge of over 9% following a better than expected quarterly report. The furniture company’s fiscal fourth quarter adjusted earnings came in at 95 cents per share, outperforming predictions on a revenue of $554 million. Analysts at LSEG predicted earnings of 70 cents per share and revenue of $516 million.

Semiconductor stocks witnessed an uptrend on Tuesday, bolstering their recent winning streak. Broadcom shares skyrocketed over 3%, meanwhile, Qualcomm and Micron Technology each gained over 2%. Nvidia also traded slightly higher, less than 1%, after Wells Fargo increased its price target for the leading player in the market.

NextEra Energy shares, however, fell close to 5% after the utilities company announced its plans to sell approximately $2 billion in equity units at $50 each. These units will represent a 5% undistributed ownership interest in NextEra Energy Capital Holdings and an agreement to buy NextEra’s stock by June 1, 2027.

Kroger shares rose 1.7% after BMO Capital Markets upgraded the grocery chain from market perform to outperform. The firm is of the view that the recent pullback has opened a favorable entry point for the grocery chain.

Lennar shares, on the other hand, dipped 3.5% even as it reported stronger than expected results for the second quarter. The homebuilder posted $3.45 in earnings per share and a revenue of $8.77 billion, outshining LSEG’s prediction of $3.24 in earnings per share and revenue of $8.52 billion. However, some Wall Street analysts are concerned about the company’s third quarter guidance, which forecasts a quarter over quarter decline in new orders.