US stock futures were slightly down on Wednesday, as investors exhibited caution before releasing the minutes from the Federal Reserve’s latest meeting. Several stocks saw significant premarket moves:
- Alphabet (NASDAQ) shares slipped 0.9%, following reports that the Department of Justice is considering sanctions, including a potential break-up of Google after an antitrust ruling found the company guilty of abusing its dominant market position.
- Arcadium Lithium (NYSE) surged 30% after mining giant Rio Tinto (NYSE) announced a $6.7 billion all-cash acquisition deal, a 90% premium over Arcadium’s closing price on Oct. 4.
- Alibaba (NYSE) fell 3%, PDD Holdings (NASDAQ) dropped 3.6%, and JD (NASDAQ) lost 4.2%, as U.S.-listed shares of Chinese firms continued to slide due to a lack of new stimulus measures.
- Boeing (NYSE) was down 1.3% after the aircraft manufacturer withdrew its offer to the International Association of Machinists and Aerospace Workers, halting negotiations amid a month-long strike.
- Hewlett Packard Enterprise (NYSE) fell 0.2% following Deutsche Bank’s initiation of coverage with a ‘hold’ rating, which highlighted potential upside but warned of execution risks.
- GitLab (NASDAQ) rose 4.4% after Morgan Stanley initiated coverage with an ‘overweight’ rating, positioning GitLab as a rising enterprise platform.
- WW International (NASDAQ) jumped 46% as the weight-loss company announced its long-anticipated entry into the compounded GLP-1 market, a move designed to stimulate growth.
