US stock futures gained on Wednesday after the underlying indexes rebounded more than 1% on Tuesday amid a wave of dip buying.
These stocks were poised to make moves Wednesday:
Lumen Technologies - Telecommunications firm Lumen Technologies sharply raised its expectations for annual free cash flow on Tuesday as AI boom drives growth, helping its shares add another 47% in premarket trading Wednesday after nearly doubling on Tuesday.
Super Micro Computer - Shares of server company Super Micro Computer plunged 11.5% in premarket trading after the company announced fiscal fourth-quarter earnings that missed analyst expectations. The company also announced a 10-for-1 stock split, set to begin trading on a split-adjusted basis on Oct. 1.
Upstart - Upstart stock surged 23.3% in premarket trading after the company issued strong guidance for Q3 revenue and adjusted EBITDA after delivering Q2 results that surpassed Wall Street expectations.
Airbnb - Airbnb forecast third-quarter revenue below estimates and warned of shorter booking windows, suggesting travelers were waiting until the last minute to book due to economic uncertainty, sending its shares down 16.1% in premarket trading.
Rivian - Rivian shares fell 5.8% in premarket trading following the company's announcement that it will maintain its current production forecast for the year and expects a slight decrease in third-quarter deliveries.
Novo-Nordisk - Novo Nordisk shares dropped 4.5% in premarket trading after the company trimmed its full-year profit outlook after reporting weaker-than-expected quarterly sales of its popular weight-loss drug Wegovy, stirring worries among investors about stiffening competition from Eli Lilly.
Fortinet - Cybersecurity firm Fortinet raised its annual revenue forecast, as companies spend more on safeguarding their digital assets and operations against cyberattacks. Shares of the company jumped 15.6% in premarket trading.
Coupang - Coupang Inc. posted its first loss in two years, after the acquisition of unprofitable Farfetch Holdings Plc and a government regulatory fine offset strong growth in its core e-commerce business. The shares dropped 4.7% in premarket trading.
Reddit - Reddit stock slipped 0.9% in premarket trading, despite the social media company reporting second-quarter sales that exceeded expectations and a narrower-than-expected loss. Revenue grew 54% year-over-year.
Sunrun - Sunrun's Q2 sales topped estimates, stock gained 7.7% in premarket trading. The solar company also announced a partnership with Tesla’s electricity provider subsidiary.
Instacart - Instacart projected its third-quarter gross transaction value and core profit above analysts' estimates, betting on higher transaction and advertisement fees and more orders on its online grocery delivery platform. Shares of the company jumped 8.8% in premarket trading.
Amgen - Amgen shares dropped 1.2% in premarket trading as the company said its second-quarter profit slipped 1% as higher expenses, including costs related to development of its experimental obesity drug MariTide, offset a 20% increase in revenue driven by the biotechnology company's October acquisition of rare disease drugmaker Horizon Therapeutics.
TripAdvisor - Tripadvisor reported second quarter earnings that beat analyst expectations, but revenue fell short of estimates, sending shares down 14.2% in premarket trading.
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