U.S. equity futures extended declines Wednesday, while the dollar jumped to a one-week high against its global peers. Investors pulled back from risk markets amid concern about the economic impact of Covid delta-variant infections.
Here are some of the top movers during premarket trading Wednesday.
1. GameStop GME | Up 0.8%
Shares of GameStop (GME) ticked up. The videogame retailer reports earnings after hours Wednesday.
2. Citrix CTXS | Up 7.1%
Shares of Citrix (CTXS) advanced after activist investor Elliott Management, which holds more than 10% of the software company, said it would like to work with Citrix to improve its valuation and lagging stock price, The Wall Street Journal reported.
3. Boeing BA | Down 0.3%
Shares of Boeing (BA) slipped after UBS analyst Myles Walton cut his price target and revenue estimates and said he saw “no reason” to expect any 787 deliveries for the rest of the third quarter. UBS maintained its buy rating on the stock.
4. Coinbase COIN | Down 3.5%
Shares of Coinbase (COIN) traded lower after the cryptocurrency exchange disclosed that the U.S. Securities and Exchange Commission plans to sue the company over its interest-earning product Coinbase Lend.
Lend enables users on its platform to earn interest by lending their cryptocurrency assets. Coinbase has received a Wells Notice from the SEC, the company said.
5. Coupa Software COUP | Up 4.1%
Shares of Coupa Software (COUP) rose after the company raised its financial targets for the year and topped analysts' expectations.
6. PayPal PYPL | Up 1.3%
Shares of PayPal (PYPL) rose in trading early Wednesday after the paymentsprocessor agreed to buy Japanese 'buy now pay later' startup Paidy for $2.7 billion.