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:
(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.
also issued first-quarter guidance that exceeded Wall Street estimates.
(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.
(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
(BRK.B) disclosed that it cut its holdings in American depositary receipts of the chip giant by 86% in the fourth quarter.
(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.
(RBLX) will be reporting quarterly earnings before the stock market opens Wednesday.
Write to Joe Woelfel at [email protected]
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