US stock futures were mostly higher Wednesday as investors awaited the release of the consumer price index for November, a major inflation report that arrives before the Federal Reserve makes a decision on interest rates next week.
These stocks were poised to make moves Wednesday:
Tesla - Tesla rose 1.2% in premarket trading, putting shares of the electric-vehicle maker on track for a sixth-straight session of gains. Coming into Wednesday, the stock has risen 61% this year and about 59% since the U.S. presidential election on Nov. 5. Expectations that CEO Elon Musk's relationship with President-elect Donald Trump will benefit Tesla have helped push the stock higher.
Quantum Computing Stocks - Quantum computing stocks surged in premarket trading on Wednesday following Alphabet's announcement of Willow, a potentially revolutionary quantum chip. Quantum Corporation rose 18%; Rigetti Computing rose 13%; D-Wave Systems rose 6%; Alphabet rose 1%.
Chinese ADRs - Chinese ADRs dropped again in premarket trading. Alibaba fell 1.5%; Li Auto fell 1.7%; XPeng fell 2.2%; PDD Holdings fell 2.4%; JD.com fell 3.2%.
GameStop - GameStop, the videogame retailer, reported a surprise third-quarter profit and the stock was up 3.2% in premarket trading even as sales in the period dropped 20% from a year earlier to $860 million. GameStop earned 6 cents a share on an adjusted basis in the quarter. GameStop also said it completed a previously disclosed "at-the-market" equity offering program in the quarter by selling 20 million common shares for about $400 million. The company said it doesn't anticipate any more offerings of its stock during the current fiscal year.
Walgreens Boots Alliance - Walgreens Boots Alliance was down 3.3% in premarket trading after shares of the pharmacy chain closed Tuesday with a gain of 17.7%, the stock's largest daily percentage increase on record. Boosting the stock Tuesday was a report from The Wall Street Journal that said Walgreens was in talks to sell itself to private-equity firm Sycamore Partners in a deal that could be completed early next year, assuming talks don't fall apart.
Stitch Fix - Stitch Fix was rising 24.8% after the online personal styling company posted a fiscal first-quarter loss that narrowed from a year earlier and revenue of $318.8 million that beat consensus, and said it expects fiscal-year revenue of between $1.14 billion and $1.18 billion, up from prior guidance of between $1.11 billion and $1.16 billion.
General Motors - General Motors scrapped its Cruise robotaxi program and shares of the auto maker were up 1.1% in premarket trading. GM said it would be combining Cruise and GM's technical teams into one self-driving entity. GM will "no longer fund Cruise's robotaxi development work," citing an "increasingly competitive robotaxi market."
Joby Aviation - Joby Aviation’s shares fell 7.1% in premarket trading as electric air taxi maker looks to raise additional equity.
Quantum Computing - Quantum Computing, an innovative, integrated photonics and quantum optics technology company, said it has entered into agreements to sell about 1.5 million shares of common stock at $5 per share to institutional investors in a registered direct offering. The shares dropped 4.7% in premarket trading.
Dave & Buster's Entertainment - Dave & Buster's Entertainment tumbled 15.9% after the entertainment and dining venue operator posted a fiscal third-quarter adjusted loss of 45 cents a share, wider than analysts' estimates that called for a loss of 40 cents, and said CEO Chris Morris had resigned. Morris will be replaced by Chairman Kevin Sheehan until a successor is identified.
GE Vernova - GE Vernova said its board initiated a quarterly dividend payout of 25 cents a share and launched a $6 billion stock buyback program. The stock fell 4.7%, however, after the company, a provider of equipment and services to power plants and wind farms, raised its outlook for both fiscal 2024 and 2025 but the forecasts were weaker than analysts' expectations.
FIGS - Figs jumped 11.9% after the medical-apparel maker received a takeover offer from private-equity firm Story3 Capital Partners that values the company at more than $1 billion, the Wall Street Journal reported. Story3 offered $6 a share for the common shares outstanding of Figs that it doesn't already own, according to a letter seen by the Journal.
Earnings reports are expected Wednesday from Adobe, Nordson, and Oxford Industries.
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