US stocks are poised to turn red Tuesday but heading the other way in a major way is furniture group RH, operator of Restoration Hardware (NYSE:RH). The company impressed the market as it raised fourth-quarter and full-year revenue guidance. The group has increased its revenue projections for the fourth quarter to a range of between $680 million and $690 million. Previous projections were for between $665 million and $685 million. The company now also expects full-year revenue to come in between $2.52 billion and $2.53 billion, up slightly from its previous expectation of $2.49 billion to $2.52 billion.
Shares of Restoration jumped in Tuesday's premarket by 18.13% to $146.14.
In other news, Dollar General Corp (NYSE:DG) shares were lower in the premarket as the group posted third-quarter earnings that were largely in line with analysts' forecasts. But it warned that extreme weather in the southeast United States will likely add to cost pressures and hit profits over the second half. The company posted earnings of $1.26 per share for the three months, which matched Street forecasts and was 28.5% higher from the same period last year.
Dollar General stock fell 4.67% to $106.50 in premarket business.
Smartsheet Inc (NYSE:SMAR) shares were higher after the company's third-quarter earnings report beat analysts' estimates. The company posted a loss of $0.09 per share instead of the $0.16, which analysts expected. The group beat revenue expectations, and came in with $46.7 million in revenue, while analysts had expected a figure of $44.1 million.
Shares of Smartsheet rose 2.37% to $27.70.
Cronos Group Inc (NASDAQ:CRON) saw shares spark up almost 10% in Wall Street premarket as the cannabis-focused company confirmed it was involved in talks on a potential investment by Altria Group Inc (NYSE:MO), one of the globe's biggest cigarette makers. A report in Reuters had appeared, which said that Altria, which makes Marlboro cigarettes, has offered to buy the cannabis a producer to diversify its business away from tobacco.
Cronos shares are up 9.14% to $11.10.
Toll Brothers Inc (NYSE:TOL) stock slumped in the premarket as its CEO Douglas Yearley blamed media reports for the slowdown in the housing market. He said in a statement Tuesday that reports about the slowing house market are causing the housing slowdown. Toll Brothers weakened after the luxury-home builder gave lower than expected guidance for the first quarter next year, while pointing to reports about the slowing housing market as the cause of the housing slowdown.
Toll Brothers shares dropped 5% to $31.85.
Also trending was a story about retail behemoth Walmart Inc (NYSE:WMT), which announced it woul soon deploy hundreds of robot janitors to clean stores. The company said it expects to have 360 “Auto-C” robots active in stores by the end of January next year.
Walmart stock slipped 0.43% to $98.33.