Stock futures pointed lower Wednesday ahead of earnings from Tesla and Apple.
Here are some of the top movers during premarket trading on Wednesday.
1. AT&T T | Down 2.5%
Adjusted earnings were 75 cents a share vs. 89 cents a year earlier. Analysts polled by FactSet had been expecting per-share earnings of 73 cents.
Total revenue slipped 2.4% to $45.69 billion, down from $46.8 billion a year earlier, though ahead of analysts’ estimates of $44.5 billion.
2. Boeing BA | Down 3.2%
Boeing (BA) - Get Report shares fell after the Chicago aerospace giant posted a much wider-than-expected fourth-quarter loss and delayed the launch of its 777X widebody. The plane maker continues to grapple with generational changes in airline demand triggered by the global coronavirus pandemic.
3. Microsoft MSFT | Up 1.6%
Shares of Microsoft (MSFT) - Get Report rose in premarket trading after the software and cloud giant posted fourth-quarter earnings that exceeded estimates on better-than-expected advertising revenue.
"I think one of the things that we're seeing is the covid impact has put a lot of constraints on all our customers, but the one structural change is the digital technology is becoming critical even for core resilience and business continuity and to deal with what is going to be a structurally changed customer behavior and expectations," Chief Executive Satya Nadella told investors.
4. Advanced Micro Devices AMD | Down 3.9%
AMD reported fourth-quarter adjusted earnings per share of 52 cents versus analyst expectations of 47 cents. Revenue was $3.24 billion vs. expectations of $3.03 billion.