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Premarket Movers Wednesday: Roblox, Kindred Biosciences, DraftKings

Stocks moving in premarket trading Wednesday include Roblox, Oracle, DraftKings, Kindred Biosciences and Mannkind.
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Stock futures were mixed Wednesday as investors awaited a policy update from the Federal Reserve.

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

1. Roblox | Down 8.1%

Roblox  (RBLX)  shares fell after the online video game giant reported a drop in daily usage in May and warned that future per-user revenue will be lower, raising concerns that the company won’t bring in as much cash as expected when the economy reopens. 

Roblox, which went public earlier this year, reported 43 million daily active users in May, down from 43.3 million in April, but up 28% from May a year ago.

2. Oracle | Down 5.1%

Shares of Oracle  (ORCL)  dropped after the enterprise software company reported fiscal fourth-quarter results. 

The company reported fourth-quarter, non-GAAP earnings of $1.54 a share on revenue of $11.2 billion, an 8% year-over-year increase. 

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Analysts expected Oracle to report earnings of $1.31 a share on revenue of $11.02 billion.

3. DraftKings | Up 0.62%

DraftKings  (DKNG)  shares were slightly higher after Hindenburg Research, a noted short-seller, said the betting company's merger with Bulgaria-based SBTech has opened it up to exposure linked to black-market gaming and money laundering. 

The company said the report was "written by someone who is short on DraftKings stock with an incentive to drive down the share price."

4. Kindred Biosciences | Up 44.5%

Kindred Biosciences  (KIN)  skyrocketed after Elanco Animal Health  (ELAN)  agreed to buy the biopharma for about $440 million, or $9.25 a share. 

Elanco said that it anticipates the combination will add about $100 million to its previously stated innovation revenue expectation of $500 million to $600 million by 2025.

5. MannKind | Up 10.5%

MannKind  (MNKD)  soared after the company and United Therapeutics  (UTHR)  said the Food and Drug Administration had accepted for priority review of the New Drug Application for Tyvaso DPI for the treatment of pulmonary arterial hypertension and pulmonary hypertension associated with interstitial lung disease.