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Wednesday’s Pre-Market: Here’s What You Need to Know Before the Market Opens
Stock Analysis & Ideas

Wednesday’s Pre-Market: Here’s What You Need to Know Before the Market Opens

U.S. stock futures were mixed on Wednesday ahead of the release of monthly consumer inflation data. The report is likely to fuel chatter on when the Federal Reserve is expected to start tapering. The mixed sentiments also come on the back of a $1 trillion infrastructure bill passing through the Senate, with the $3.5 trillion spending plan also narrowly sailing along party lines.

Dow futures were up 0.06%, S&P futures were down 0.09%, and Nasdaq futures were down 0.26% at the time of writing.

AppHarvest Inc. (APPH), Digital Ally Inc. (DGLY), and API Group Corp. (APG) are set to report their quarterly earnings before the market opens. Conifer Holdings Inc. (CNFR), Lordstown Motors Corp. (RIDE), and Datto Holding Corp. (MSP) will report after the market close.

CohBar Inc. (CWBR) was the most active stock in the pre-market session, with 5.42 million shares changing hands at the time of writing. The increased market activity comes on the company delivering its second-quarter results and providing a business update.

Good Times Restaurants Inc. (GTIM) was one of the biggest gainers in pre-market trading, jumping 23.11% at the time of writing. The spike follows the announcement that the company’s fiscal third-quarter revenues increased 39.4% to $33.9 million. The company also posted net income attributable to shareholders of $13.6 million.

WW International, Inc. (WW) was the biggest pre-market loser, falling 25.67% at the time of writing. The sell-off comes on the company’s second-quarter earnings and revenues missing estimates. Earnings landed at $0.48 a share against an expected $0.67 a share.

CuriosityStream Inc. (CURI) shares popped over 13% in pre-market trading after the factual media and entertainment company delivered solid second-quarter results. Revenues were up 27% year-over-year to $15.3 million, beating consensus estimates of $14.95 million. The company also reported a narrower than expected net loss of $0.19 a share compared to a loss of $0.66 a share reported last year.

Paymentus Holdings, Inc. (PAY) delivered solid second-quarter results backed by a 40% increase in the number of transactions processed. Additionally, the company has confirmed a cash and stock deal to acquire Payveris for $152.2 million. The acquisition will expand the company’s reach of its Instant Payment Network to institutions.

TransDigm Group (TDG) delivered a 19.2% year-over-year increase in sales to $1.22 billion for its fiscal third quarter ended July 3, 2021. Adjusted net income was up 120.5% year-over-year to $194 million, and earnings per share came in at $3.33, above consensus estimates of $2.93 a share.

Coinbase Global (COIN) delivered second-quarter results above Street expectations driven by robust trading volume. Earnings per share of $6.42 came in above consensus estimates of $2.24 per share. Revenues landed at $2.03 billion against the $1.7 billion expected.

Sysco (SYY) posted an 82% year-over-year increase in revenues to $16.1 billion for its fiscal fourth quarter ended July 3, 2021, beating consensus estimates of $14.23 billion. The company posted earnings of $0.71 a share versus earnings of $0.60 a share expected by analysts.

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