U.S. stock index futures fell Wednesday, putting Wall Street on course to add to the previous session’s losses. Investors will watch Wednesday for economic data in the morning on the U.S. trade deficit and services industry. A new beige book, which summarizes economic activity, will be released in the afternoon.
Market Snapshot
At 08:15 a.m. ET, Dow e-minis were down 80 points, or 0.23%, S&P 500 e-minis were down 11 points, or 0.24%, and Nasdaq 100 e-minis were down 44.25 points, or 0.28%.
Pre-Market Movers
Albertsons Companies, Inc. - Stocks rose over 3% in premarket trading. Kroger is in talks with C&S Wholesalers to sell grocery stores in an effort to gain antitrust approval for its planned $24 billion purchase of Albertsons.
Roku Inc - Stocks surged over 11% in premarket trading. It would fire 10% of its workforce and the layoff will result in a restructuring charge between $45 million and $65 million.
KE Holdings Inc. - Stocks jumped nearly 6% in premarket trading. China should drop home-buying restrictions in regions other than top-tier cities with the hottest markets, the Securities Times said in a front-page commentary on Wednesday.
GitLab, Inc. - Stocks jumped over 6% in premarket trading. It beat earnings expectations as revenue soared 38% in the second quarter. The company reported adjusted earnings of 1 cent per share, ahead of analysts’ expectations of a loss of 3 cents a share.
Nextgen Healthcare Inc - Stocks surged over 14% in premarket trading. It has entered a definitive agreement that will see its shareholders receive $23.95 a share in cash, a 46% premium to the closing price on Aug. 22, before reports of a possible transaction.
Asana, Inc. - Stocks fell over 4% in premarket trading despite its earnings topping analysts’ estimates for the second quarter. It reported an adjusted loss of 4 cents per share, while analysts were expecting a loss of 11 cents per share.
Enbridge - Stocks slipped over 7% in premarket trading. It entered into three separate definitive agreements with Dominion Energy, Inc. to acquire EOG, Questar and PSNC for an aggregate purchase price of $14.0 billion.
Stem Inc. - Stocks fell nearly 4% in premarket trading. Morgan Stanley downgraded it from Overweight to Equal-Weight and lowered the price target from $12 to $8.
Market News
The EU Commission on Wednesday designated 22 services of six major tech companies as "gatekeepers" of online services providing messaging to video sharing in its latest crackdown on Big Tech. The firms are Alphabet, Amazon.com, Apple, Meta Platforms, Inc., Microsoft and TikTok owner ByteDance.
Apple has signed a new deal with ARM Holdings Ltd for chip technology that "extends beyond 2040," according to Arm's initial public offering documents filed on Tuesday.
Alphabet on Tuesday tentatively settled a class action suit alleging that its U.S. Play Store had violated U.S. federal antitrust rules by overcharging customers, according to a court filing.
The 2 millionth vehicle produced by Tesla Motors Gigafactory Shanghai rolled off the assembly line on Wednesday, reaching a new milestone, the company said.
Taiwan Semiconductor Manufacturing will decide this week whether to invest in chip designer Arm Holdings' blockbuster initial public offering (IPO), Chairman Mark Liu said on Wednesday.
GX BANK Berhad (GXBank) on Tuesday (Sep 5) announced that it is the first of the five digital bank licence applicants to obtain approval to commence operations in Malaysia. GXBank is a subsidiary of GXS Bank – the digital bank joint venture between Grab Holdings and Singapore Telecommunications (Singtel), as well as a consortium of Malaysian investors including Kuok Group.
Coinbase Global, Inc. is launching a digital asset lending platform aimed at large institutional investors, a company spokesperson told Reuters on Tuesday. It has raised $57 million for its new crypto-lending platform, a regulatory filing showed.
More than 70 large artificial intelligence language models with over 1 billion parameters have been released in China, Baidu CEO Robin Li told an industry event in Beijing on Tuesday.
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