Stock futures fluctuated Wednesday as Wall Street monitored earnings reports and the spread of the delta variant of COVID-19 across the globe and awaited U.S. jobs data later in the week.
Here are some of the top movers during premarket trading on Wednesday:
1. General Motors - Down 3.7%
General Motors (GM) - Get General Motors Company (GM) Report shares slipped after the automaker posted weaker-than-expected second-quarter earnings while lifting its full-year profit guidance. Warranty costs linked to a Chevy Bolt battery recall ate into the bottom line. Revenue more than doubled (up 104%) to $34.2 billion, beating the analyst consensus estimate of $30.9 billion.
2. Zymergen - Down 77%
Shares of Zymergen (ZY) - Get Zymergen Report tumbled after the biomanufacturing company said it no longer expected product revenue in 2021 and expected an immaterial amount next year. The company also said Chief Executive Josh Hoffman stepped down. Former Illumina (ILMN) - Get Illumina, Inc. (ILMN) Report CEO Jay Flatley was appointed acting chief executive.
3. Lyft - Up 0.9%
Lyft (LYFT) - Get Lyft Inc Class A Report shares were up after the San Francisco ride-hailing specialist reported a narrower second-quarter loss as revenue more than doubled. The company said that in the quarter it for the first time reached adjusted profitability based on earnings before interest, taxes, depreciation and amortization.
4. Activision Blizzard - Up 5.9%
Shares of Activision Blizzard (ATVI) - Get Activision Blizzard, Inc. Report climbed after the “Call of Duty” and “Black Ops” videogame developer reported stronger-than-expected second-quarter results and lifted its guidance. The report prompted analysts to look past the company's recent troubles related to a sexual-harassment lawsuit filed by the California Department of Fair Employment and Housing and an employee walkout.
5. Match Group - Up 3.7%
Match Group (MTCH) - Get Match Group, Inc. Report shares fell after the dating-service group, which owns Match.com and Tinder, reported a smaller-than-expected profit. Net income totaled $140.5 million, or 46 cents a share, up from $106.8 million, or 36 cents a share, a year earlier. The latest figure was short of he FactSet analyst consensus estimate of 49 cents.