U.S. stock futures were trending higher on Wednesday as soft U.S. inflation data triggered uncertainty over whether the Federal Reserve will start tapering before year-end.
Dow futures were up 0.18%, S&P futures were up 0.22%, and Nasdaq futures were up 0.28% at the time of writing.
Weber Inc. (WEBR) is set to report its quarterly earnings before the market opens, while Brooge Energy Ltd. (BROG) will report during the day.
NXT-ID Inc. (NXTD) was the most active stock in the pre-market session, with 4.26 million shares exchanging hands at the time of writing. No fundamental news has been released to justify the significant market activity that saw the stock pop 28.35%.
Salisbury Bancorp (SAL) was one of the biggest gainers jumping 23.65% at the time of writing. It is still unclear what is causing the stock to spike as no fundamental news has been released to justify the jump.
Kaival Brands Innovations Group (KAVL) was the biggest loser in the pre-market session, falling 25.50% at the time of writing. The sell-off comes on the heels of the company delivering its fiscal third-quarter results that showed a significant decline in revenues.
WM Technology, Inc. (MAPS) has acquired cloud-based customer relationship management (CRM) company Sprout. With the acquisition, the company is poised to become one of the biggest, wide-ranging platforms in the cannabis industry. The acquisition will also strengthen its position in the fast-growing cannabis market.
Microsoft Corporation (MSFT) has confirmed an 11% increase in its quarterly dividend to $0.62 a share. The dividend is to be paid on December 9, 2021, to shareholders of record as of November 18, 2021. The annual dividend now stands at $2.30 a share, representing a 0.8% dividend yield. Additionally, the software giant has also confirmed a $60 billion share repurchase program.
NetEase (NTES) is downsizing its operations in China. Citing the South China Morning Post, Reuters reports that the gaming firm is curtailing its gaming studios and projects, concerned by the ongoing crackdown on the video game industry. Some of the company’s employees have been relieved of their original jobs as part of the ongoing restructuring.
Kroger (KR) has launched a new delivery service dubbed Kroger Delivery Now as part of a partnership with Instacart. The new service will make it easy for customers to shop for groceries and household essentials and have them delivered in as fast as 30 minutes. The service is to take advantage of the company’s network of more than 2,700 stores.
FuelCell Energy (FCEL) delivered better-than-expected fiscal third-quarter results characterized by top-line growth. Revenue was up 43% year-over-year to $26.8 million, exceeding consensus estimates of $20.7 million. Meanwhile, the company delivered a net loss of $0.04 a share, better than the expected net loss of $0.07 a share.
