Novavax, Lucid, Zoom Video, AMC, Target: What to Watch in the Stock Market Today

Wall Street stocks wavered following days of whipsaw moves, while oil prices rallied. Here’s what we’re watching in Tuesday’s trading:

Covid-19 vaccine maker Novavax reported less revenue than expected for the fourth quarter.
Electric car maker Lucid Group cut its 2022 vehicle-production target, underscoring the twin challenges of global supply-chain snags and the transition from startup to mass production.
Energy companies were broadly higher after crude prices topped $100 a barrel. ConocoPhillips , Occidental Petroleum and Halliburton were all up in morning trading.
Target reported strong sales gains in the holiday quarter, capping off a two-year pandemic run during which the retailer grew its business by nearly $30 billion in revenue.

Sales growth at Zoom Video Communications faltered in the fourth quarter, signaling that demand for its videoconferencing application is no longer as entrenched in daily life as more conditions from the Covid-19 pandemic begin to recede.
Gold prices extended their recent march higher, and the upward swing was benefiting the share prices of some producers, including Barrick Gold and Newmont . Gold is seen as a stable investment in times of uncertainty. However, with the Federal Reserve on course to raise interest rates, its popularity as a safety play may wane, as unlike Treasurys, it doesn’t pay interest.
PC and printer maker HP raised its annual profit outlook, boosted by strong sales of computers to businesses, but warned that Russia’s invasion of Ukraine would dent its bottom line this quarter.
Human-resources cloud-software company Workday beat estimates for the quarter and forecast a subscription revenue range that exceeded the Wall Street consensus.
Twinkie maker Hostess Brands revenue came in ahead of Wall Street expectations during the recent quarter and it set a share buyback plan.
Advertising technology company PubMatic reported quarterly results, including a 34% jump in revenue from the same period a year ago.
AMC Entertainment , Hewlett Packard Enterprise , Urban Outfitters and First Solar are among the companies reporting earnings after Tuesday’s close.

Oil, natural-gas and grain prices jumped Monday as a broadside of sanctions on Russia over the weekend threatened to ensnare commodities exports from the resource-rich nation.

Write to James Willhite at james.willhite@wsj.com