font size
Roku shares rose early Wednesday.
Photo by Shunlock / Dreamtime
US stock futures fell as Wall Street prepared for a second day of losses, as the recent rise in oil prices renewed concerns about inflation and the outlook for interest rates.
These stocks were poised to make moves on Wednesday:
year
(Stock ticker: ROKU) Shares rose 12% after the tech company said it would lay off 10% of its workforce.
GitLab
(GTLB) shares jumped 6.3% in pre-market trading after the code hosting platform provider beat earnings expectations as revenue rose 38% in the second quarter. The company reported adjusted earnings of 1 cent per share, beating analyst expectations for a loss of 3 cents per share.
Asana
(ASAN) The stock fell 6.2% before the open even though the business software provider’s results beat analyst estimates for the second quarter. Asana reported an adjusted loss of 4 cents per share, while analysts had expected a loss of 11 cents per share.
Southwest Airlines
(LUV) fell 4.7% after the airline was downgraded to neutral from an outperformer at Exane BNP Paribas.
American Airlines
(AAL) was down 0.9% even after being upgraded to Outperform from Neutral.
roadblock
(SQ) down 2.5% in pre-market trading after the payments firm was downgraded to neutral from buy at
UPS
.
The first solar
(FSLR), the nation’s largest solar producer, was up 2% in premarket trading.
Morgan Stanley
He upgraded the stock to equal weight from underweight at Morgan Stanley.
Zscaler
(ZS) The stock fell 1.1% before the open despite beating earnings expectations and offering an upbeat outlook. Remo Canessa, CFO of the cybersecurity firm, warned that the economic environment remains uncertain and closing deals within 90 days “remains a challenge”.
Manchester United
(MANU) Shares rose 0.9% in premarket trading, after falling more than 18% on Tuesday. It was the largest share sale ever in a single day, and came on the heels of a report that the English football club would no longer be sold.
Earnings reports are expected on Wednesday after the stock market closes
GameStop
(GME),
UiPath
(road),
C3. ai
(Amnesty International),
American Eagle Outfitters
(Io), and
Charge Point Holdings
(CHPT).
Write to Callum Keown at callum.keown@dowjones.com, Callum Keown at callum.keown@barrons.com and Emily Dattilo at emily.dattilo@dowjones.com
