Stock futures rose Wednesday after a dip in trading on Tuesday.
Here are some of the top movers during premarket trading on Wednesday.
1. General Motors GM | Down 1.8%
Shares of General Motors (GM) dropped early Wednesday even after the Detroit automaker posted stronger-than-expected fourth-quarter earnings, led by a strong rebound in demand for its cars and trucks.
The company warned that a global semiconductor shortage could cut into earnings for this year.
Adjusted earnings were $2.8 billion, or $1.93 a share, vs. $72 million, or 5 cents a share, in the year-earlier quarter. Analysts polled by FactSet had been expecting earnings of $1.60 a share.
2. Twitter TWTR | Up 8.3%
Shares of Twitter (TWTR) rose more than 6% premarket after the microblogging website posted better-than-expected fourth-quarter earnings on a recovery in digital advertising, sparking a raft of analyst price-target boosts.
Twitter ad revenue grew 31% from a year earlier to $1.15 billion.
Twitter reported earnings of 38 cents a share on revenue of $1.29 billion.
Analysts at Keybanc, Baird and Piper Sandler raised their price targets on the stock.
3. Under Armour UAA | Up 8.7%
Shares of Under Armour (UAA) rose early Wednesday after the sports retailer posted a surprise profit for the holiday quarter.
Under Armour reported earnings of $184.5 million, or 40 cents a share, in the quarter, against a loss of $15.3 million, or 3 cents a share, in the year-ago period.
Adjusted earnings came to 12 cents a share, while the FactSet consensus was for a loss of 6 cents a share. Revenue fell to $1.4 billion from $1.44 billion but was ahead of the $1.27 billion FactSet consensus.
4. Coca-Cola KO | Up 2%
Shares of Coca-Cola (KO) were rising Wednesday after the beverage maker posted fourth-quarter earnings that exceeded analysts' expectations.
Adjusted earnings rose to 47 cents a share from 44 cents a share, beating the FactSet consensus of 42 cents. Revenue fell 5% to $8.61 billion, just above the FactSet consensus of $8.6 billion.
5. Cisco CSCO | Down 4.8%
Cisco (CSCO) stock traded lower Wednesday a day after the company reported a drop in its infrastructure platforms revenue, a cash cow for the company, for the second quarter ended Jan. 23.
6. Lyft LYFT | Up 11%
Shares of Lyft (LYFT) advanced after the ride-hailing service reported earnings and revenue that exceeded Wall Street estimates.
Lyft is also still on track to become Ebitda profitable by the fourth quarter, with a chance that could be achieved by the third quarter, CFO Brian Roberts said in the company’s earnings call.
Roberts said in a statement that Lyft expects “a growth inflection beginning in the second quarter that strengthens in the second half of the year.”