Stock futures rose Wednesday ahead of U.S. inflation data that could present traders with a clearer view on how the Federal Reserve will respond to rising inflation.
These are some of the stocks making notable moves in premarket trading Wednesday.
Coinbase Global (ticker: COIN), a crypto trading platform, posted a wider-than-expected second-quarter loss and revenue below analysts’ estimates. The stock was down 7.4% in premarket trading Wednesday.
Tesla (TSLA) was rising 2%. Elon Musk has sold $6.9 billion worth of Tesla stock over the past few trading days. Musk said in a tweet that in “the (hopefully unlikely) event that Twitter forces this deal to close *and* some equity partners don’t come through, it is important to avoid an emergency sale of Tesla stock.” Twitter (TWTR) has sued the billionaire to force him to stick to his agreement to purchase the social media company. Twitter shares were up 3.6% Wednesday.
Video gaming software provider Unity Software (U) was 3.3% lower Wednesday after posting a revenue miss for its second quarter and guiding for third-quarter revenue below Wall Street consensus. On Tuesday, app marketing services company AppLovin (APP) proposed to buy Unity in an all-stock transaction with an equity value of $20 billion.
Trade Desk (TTD) jumped 16% after issuing third-quarter revenue guidance above Wall Street estimates and reporting second-quarter sales that beat consensus.
Wynn Resorts (WYNN) stock fell 2.7% as the hotel casino company posted second-quarter revenue that missed Wall Street estimates. Restrictions and closures in Macau negatively affected the company’s results.
Salad restaurant chain Sweetgreen (SG) sank 21% as it lowered its 2022 sales outlook after citing a “softness in revenue around Memorial Day.” Sweetgreen also posted a wider loss and revenue for the second quarter below what analysts expected.
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