U.S. stock futures edged lower as investors awaited data on consumer prices, amid building concerns over inflationary pressures in the global economy. Here’s what we’re watching for in Wednesday’s trading session:
- Coinbase Global shares tumbled more than 9% premarket after the company posted third-quarter revenue that missed analysts’ targets.
- Tesla ’s stock price edged down 1.2% in premarket trading, a sign that the electric-vehicle maker’s shares might slide again after falling for three consecutive days.
- Shares of online marketplace Poshmark tumbled 30% premarket after posting third-quarter sales below Wall Street expectations and issuing a fourth-quarter forecast that missed estimates.
- Shares of DoorDash jumped more than 15% premarket after it said it has agreed to acquire European food-delivery company Wolt Enterprises Oy in an all-stock deal valued at over $8 billion and reported quarterly results that topped Wall Street’s estimates.
- Krispy Kreme shares added 5.9% premarket after the doughnut-maker reported an 18% revenue increase in the latest period, helped again by international operations that performed stronger than before the pandemic.
- Shares of Google parent Alphabet fell 0.8% premarket after a European Union court largely upheld a $2.8 billion antitrust decision against Google, adding new momentum to the bloc’s assault on big tech companies.
- Purple Innovation shares fell more than 30% premarket after the mattress maker said sales in the latest quarter were hit by manufacturing backlogs and it lowered annual outlook.
- Shares in electric vehicle maker Rivian are expected to debut trading today.
- Walt Disney and Beyond Meat are scheduled to post quarterly earnings after markets close.
Chart of the Day
- General Electric said it would split into three public companies, breaking apart the more than century-old company that was once a symbol of American manufacturing might and has struggled in recent years.
Write to Caitlin Ostroff at caitlin.ostroff@wsj.com
