5 stocks to watch for Tuesday: Microsoft, Goldman Sachs, Johnson & Johnson and more
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The buy-the-dip trade remained popular in Tuesday's premarket trading, with stocks looking poised to continue the rally that marked the action on Monday. The rising pace of incoming earnings announcements provided the most obvious catalyst going into the session. Here are some stocks to watch for Tuesday:

Microsoft (NASDAQ:MSFT) has reportedly launched a cost-cutting effort that includes the layoff of 1,000 employees. According to the Wall Street Journal, the job cuts impact multiple divisions.
Target (TGT) rose in premarket trading after receiving an analyst upgrade. Jefferies raised its rating on the retailer to Buy from Hold, saying the company is starting to work through its margin issues, with inventory beginning to move lower. TGT rose nearly 3% before the opening bell.
Johnson & Johnson (JNJ) revealed Q3 earnings that topped expectations, with revenue that rose 2% to $23.8B. However, the company updated its 2022 guidance, citing the impact of inflation and forex. JNJ now sees 2022 adjusted EPS of $10.02-$10.07 compared to its prior guidance of $10.00-$10.10.
Goldman Sachs (GS) reported Q3 results that beat expectations on both the top and bottom lines. Meanwhile, the company said its provision for credit losses rose to $515M compared to $175M in the same period last year, in part as a result of concern for the global macroeconomic outlook.
Lockheed Martin (LMT) issued a mixed earnings report. Earnings topped expectations but revenue fell short of projections. The top line climbed 3.4% to $16.6B. This missed analysts' consensus by $110M.


Looking overseas, see how ongoing controversy about the Bank of England's quantitative tightening could impact U.S. markets.