U.S. equity futures edged lower Wednesday as solid corporate earnings clashed with persistent inflation concern and a jump in Treasury bond yields.
Here are some of the top movers ahead of the opening bell on Wednesday.
1. Novavax NVAX | Down 23%
2. Netflix NFLX | Down 1.9%
A Deutsche Bank analyst downgraded the stock to hold from buy. "While, on the one hand, we share the market's enthusiasm toward Netflix's very strong 4Q content slate and the optionality it brings to 4Q net adds; on the other hand, we think a 4Q subscriber beat is already more than priced into the stock," Bryan Kraft wrote in a note to clients.
But analysts at Oppenheimer, JPMorgan, Barclays, Stifel, Morgan Stanley, KeyBanc, Wells Fargo and others raised price targets on Netflix stock.
3. United Airlines UAL | Up 1.7%
United Airlines (UAL) - Get United Airlines Holdings, Inc. Report stock traded higher after the carrier's third-quarter earnings beat analyst estimates and Chief Executive Scott Kirby said the company is on target to meet its goals for 2022.
4. Biogen BIIB | Up 1.4%
Shares of Biogen (BIIB) - Get Biogen Inc. Report advanced after the drugmaker beat third-quarter estimates on the top and bottom lines and raised its full-year guidance. The company is still optimistic about prospects for its Alzheimer’s drug, Aduhelm, despite slower-than-expected adoption.
5. Verizon VZ | Up 1.6%
Shares of Verizon (VZ) - Get Verizon Communications Inc. Report rose after the telecom giant posted stronger-than-expected third-quarter earnings and bumped up its full-year profit forecast. The report reflects strong consumer demand for 5G-enabled devices and related services as well as for broadband service.