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Premarket Movers Wednesday - Coherent, Plug Power, Coupa, CrowdStrike

Stocks moving in premarket trading on Wednesday include Coherent, CrowdStrike, Plug Power and Coupa Software.

Stock futures fell Wednesday as investors awaited the Federal Reserve’s latest economic outlook.

Here are some of the top movers during premarket trading on Wednesday.

1. Coherent COHR | Up 3.3%

Shares of Coherent  (COHR) - Get Coherent Inc. Report were higher after Lumentum, a provider of optical and photonic products, said it raised its buyout bid for the laser-technology company in a bidding war against II-VI. The revised cash-and-stock bid values Coherent at $6.9 billion.

2. Plug Power PLUG | Down 15%

Shares of Plug Power  (PLUG) - Get Plug Power Inc. Report fell after the fuel-cell company disclosed accounting errors in results for 2018, 2019 and the first three quarters of 2020.

The errors included "book value of right of use assets and related finance obligations," loss accruals for service contracts, impairment of certain long-lived assets and "classification of certain costs, resulting in a decrease in research and development expense."

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3. Coupa Software COUP | Down 1% 

Shares of Coupa Software  (COUP) - Get Coupa Software Incorporated Report were lower a day after the business-spending- management-software maker reported fiscal-fourth-quarter top- and bottom-line results that handily beat analyst estimates.

For the current quarter Coupa's guidance for revenue topped estimates while the earnings outlook fell short. 

4. CrowdStrike Holdings CRWD | Up 1.9%

Shares of CrowdStrike  (CRWD) - Get CrowdStrike Holdings Inc. Report advanced after the cybersecurity company on Tuesday after the closing bell reported fourth-quarter results that topped analyst estimates.

"Our go-to-market engine has gained incredible momentum with both marquee enterprises and small businesses," Chief Executive George Kurtz said in a statement. 

5. Lennar LEN | Down 1.1%

Shares of Lennar (LEN) - Get Lennar Corporation Class A Report wavered after the luxury-home builder on Tuesday after the closing bell posted better-than-expected results for its fiscal first quarter. Lennar also offered an upbeat forecast as low interest rates and COVID-19-driven demand drove its financial results.