Skip to main content

Premarket Movers Wednesday Ahead of Fed Meeting

Stock futures were lower ahead of a crucial policy decision from the U.S. Federal Reserve.

Stock futures edged lower Wednesday ahead of the Federal Reserve meeting that could determine the pace of the stimulus taper.

Here are some of the top movers ahead of Wednesday's trading session.

1. Eli Lilly LLY | Up 4.9%

Shares of Eli Lilly  (LLY) - Get Eli Lilly and Company Report gained. The drugmaker lifted its forecast for Covid therapy sales, while boosting its full-year profit estimate, heading into an investor day presentation in Indianapolis.

2. United Parcel Service UPS | Up 1.2%

Shares of United Parcel Service  (UPS) - Get United Parcel Service, Inc. Class B Report edged higher after UBS named the package delivery giant a top pick. The investment firm said the company "should benefit from increased consumer spending and that it has a greater chance of margin expansion than its rivals," CNBC reported.

3. Weibo WB | Down 2.2%

U.S,-listed shares of Weibo  (WB) - Get Weibo Corp. Report dropped a day after the Chinese social-media company was fined by the Cyberspace Administration of China for disseminating “illegal information.”

Scroll to Continue

TheStreet Recommends

4. Nucor NUE | Down 3.3%

Shares of Nucor  (NUE) - Get Nucor Corporation Report were dropping after the steelmaker's guidance for the fourth quarter missed estimates. Nucor expects earnings per share of $7.65 to $7.75 a share. Analysts surveyed by FactSet are expecting EPS of $8.18 a share.

5. Domino's Pizza DPZ | Down 2.5%

Shares of Domino's Pizza  (DPZ) - Get Domino's Pizza, Inc. Report edged lower after analysts at Barclays downgraded the stock to underweight from equal weight and cut their price target to $495 from $500. 

The investment firm said that Domino's has "continued to deliver best in class fundamentals." But industry headwinds for its competitors are now fading, and that could hurt the chain, according to TheFly.

Barclays analyst Jeffrey Bernstein added that Domino's' stock valuation is "fully loaded" at current levels.