Stock futures are little changed as S&P 500 gets set to close out the first quarter up 10%:

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An Hour Ago

Flows to cash could be waning in favor of risk assets, Barclays says

Cash as an asset class has commanded equity fund flows, but Barclays believes its reign could be nearing its end.

“Cash remains in favor as it is seeing the most inflows ytd, but momentum is slowing, in our view,” wrote analyst Emmanuel Cau.

In the near term, Cau believes that quarter-end rebalancing could favor bonds over stocks. Further out, rate cuts and resilient earnings fundamentals could widen the equity market rally.

“A change of market leadership away from US/Tech/Quality could provide a healthy broadening outward and may even give the bull market legs,” he added.

— Lisa Kailai Han

An Hour Ago

GE Vernova and Solventum will join the S&P 500 in April

GE Vernova and Solventum are set to join the S&P 500 next week.

Solventum, 3M‘s health-care business, will be added to the broad market index on April 1 – the same date that it’s expected to be spun off from the multinational conglomerate. It will trade under the symbol SOLV.

GE Vernova, General Electric‘s power business, will become part of the S&P 500 on April 2. That’s the same day that it will formally be spun off from GE and trade under the ticker GEV. On that date, GE will also be renamed GE Aerospace and maintain its position in both the S&P 500 and the S&P 100.

S&P Dow Jones Indices will drop V.F. Corp and Dentsply Sirona from the broad market index, with the latter joining the S&P Midcap 400.

-Darla Mercado

An Hour Ago

RH, Verint Systems lead after-hours movers

Check out the stocks making headlines in extended trading:

RH — Shares of luxury home furnishings retailer RH jumped 7% after the company said it expects its demand trends to accelerate throughout fiscal year 2024, even as it foresees business conditions to “remain challenging” until interest rates ease and the housing market bounces back. RH missed earnings and revenue expectations for the fourth quarter, however, and guided first-quarter revenue down to the low-single digits.
MillerKnoll — The stock plunged 12.8% after falling short on third-quarter revenue estimates. The company, which makes seating products and furniture systems, reported 45 cents per share in adjusted earnings, while analysts expected 44 cents per share. Revenue came out at $872.3 million, below analysts’ expectations of $909.6 million for the quarterly period, per FactSet.
Sprinklr — Shares added 7.6% after the software stock after the company beat fourth-quarter earnings and revenue expectations. Sprinklr reported adjusted earnings per share of 13 cents, which came out 4 cents above analysts’ forecasts, per FactSet. The company’s revenue of $194.2 million also surpassed expectations of $188.7 million.
Verint Systems — Shares rose 5.2% after the customer engagement solutions provider beat fourth-quarter earnings per share and revenue estimates. The company posted adjusted earnings of $1.07 per share on revenue of $265.1 million, while analysts polled by FactSet had called for 97 cents per share in adjusted earnings on revenue of $262.5 million.

— Pia Singh

2 Hours Ago

Stock futures open little changed on Wednesday