Stock futures were higher Wednesday, potentially extending a rebound on Wall Street, as investors focused on earnings and the economic impact of rising coronavirus infections across the globe.
Here are some of the top movers during premarket trading on Wednesday:
1. Chembio Diagnostics - Up 110%
Chembio Diagnostics (CEMI) - Get Report doubled after the diagnostic-test maker said it received a $28.3 million order from Bio-Manguinhos for its DPP SARS-CoV-2 Antigen tests for Brazil’s Ministry of Health to address the COVID-19 pandemic. The test is designed to detect the SARS-CoV-2 antigen, which indicates an active COVID-19 infection, in 20 minutes using a nasal swab.
2. NeuroMetrix - Up 31%
Shares of NeuroMetrix (NURO) - Get Report continued to climb after the U.S. Food and Drug Administration gave a breakthrough designation to the biopharma's Quell device for treating fibromyalgia in adults. Quell is a non-invasive nerve-stimulation device, the company said.
3. Johnson & Johnson - Up 1%
Johnson & Johnson (JNJ) - Get Report rose after pharmaceutical and health products company posted stronger-than-expected second-quarter earnings, while boosting its full-year profit forecast. Rebounds in pharmaceutical and consumer health sales boosted the top and bottom lines.
4. Coca-Cola - Up 2.4%
Shares of Coca-Cola (KO) - Get Report jumped after the soft drinks titan reported better-than-expected second-quarter earnings and lifted its full-year profit forecast. The report reflects major economies worldwide continuing to reopen restaurants, sports venues and movie theaters following pandemic-forced shutdowns.
5. Verizon - Up 1.7%
Verizon (VZ) - Get Report shares rose after the telecom-services giant beat Wall Street's second-quarter earnings expectations, sparked by higher demand for 5G-related services and devices. Verizon added 275,000 postpaid phone subscribers in the second quarter, above FactSet estimates of 174,800, according to Reuters.