Tripadvisor, Airbnb, Trade Desk, Analog Devices, and More Market Movers

Text size

Stock futures pointed lower Wednesday as Wall Street continued to digest the latest U.S. inflation data and what a higher-than-expected increase in prices means for the path of interest rates.

These stocks were poised to make moves Wednesday:

Airbnb

(ABNB) was rising 9.4% in premarket trading after the short-term rental company reported better-than-expected fourth-quarter revenue and profit, and posted its first-ever annual profit.

Airbnb

also issued first-quarter guidance that exceeded Wall Street estimates.

Tripadvisor

(TRIP) was up 9.4% after fourth-quarter revenue at the online travel site jumped 47% from a year earlier on a continued recovery in travel demand.

Trade Desk (TTD) rose 8% after fourth-quarter adjusted earnings beat Wall Street estimates and the digital advertising company issued a first-quarter revenue outlook higher than forecasts.

Devon Energy

(DVN) was down 6.6% after fourth-quarter profit at the oil and gas company fell from a year earlier and it said it expects first-quarter production to fall slightly from the fourth quarter.

Taiwan Semiconductor Manufacturing

(TSM) declined 6% in premarket trading after Warren Buffett’s

Berkshire Hathaway

(BRK.B) disclosed that it cut its holdings in American depositary receipts of the chip giant by 86% in the fourth quarter.

Upstart Holdings

(UPST), the artificial-intelligence lending company, fell 3% after it issued a first-quarter earnings and sales outlook that was well below analysts’ forecasts.

American Eagle Outfitters

(AEO) declined 1.8% after shares of the retailer were downgraded to Hold from Buy at Jefferies.

Analog Devices

(ADI),

Kraft Heinz

(HNZ),

Biogen

(BIIB), and

Roblox

(RBLX) will be reporting quarterly earnings before the stock market opens Wednesday.

Write to Joe Woelfel at [email protected]