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Premarket Movers Wednesday - Target, Lowe's, Moderna, Tilray

Stocks moving in premarket trading Wednesday include Target, Lowe's, Moderna, Tilray, Cree and Analog Devices.

Stock futures declined Wednesday, a day after the S&P 500 fell by the most in four weeks, as Wall Street awaited the Federal Reserve's update on how close the central bank might be on pulling back stimulus.

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

1. Lowe's LOW | Up 4.09%

Shares of Lowe's  (LOW) - Get Free Report rose after the home-improvement retailer posted stronger-than-expected second quarter earnings, and raised its full-year revenue outlook to $92 billion from $86 billion.

2. Target TGT | Down 1.81%

Shares of Target  (TGT) - Get Free Report slipped early Wednesday despite the retailer reporting second-quarter earnings that topped estimates, and the company's board approved a new $15 billion share repurchase program.

3. Tilray TLRY | Up 8.77%

Shares of Tilray  (TLRY) - Get Free Report rose nearly 10% after the Canadian marijuana producer reached a deal to buy a majority position in senior secured convertible notes of MedMen Enterprise, the California-based pot company.

4. Cree CREE | Down 5.74%

Shares of Cree  (CREE) - Get Free Report fell after the company reported a narrower-than-expected fiscal fourth-quarter loss and topped revenue estimates.

5. Analog Devices ADI | Down 2.59%

Shares of Analog Devices  (ADI) - Get Free Report were lower after the company posted better-than-expected fiscal third-quarter profit and revenue.

The company expects profit and revenue for the fiscal fourth quarter to rise from the prior year as it sees strong bookings across end markets.

6. Moderna MRNA | Up 1.33%

Shares of Moderna  (MRNA) - Get Free Report rose Wednesday ahead of an expected call from the Biden administration to authorize a third COVID-19 vaccine shot for most Americans.