Stock futures are wavering ahead of the release of minutes from the Federal Reserve’s latest policy meeting. Here’s what’s moving in Wednesday’s trading:
- Beyond Meat BYND -5.01% is enjoying a Colonel Sanders rally premarket, rising 10% ahead of the bell after the plant-based meat producer said its faux fried chicken product is coming to KFC locations in the U.S. next week.
- Longeveron LGVN -4.05% shares rocketed 22% higher premarket. The biotech said in a press release that it was launching a phase 2a clinical trial for a treatment for Alzheimer’s disease.
- Shares of Mainz Biomed MYNZ -1.52% soared 83% premarket after the molecular genetics diagnostic company said it secured an exclusive license to a portfolio of novel mRNA biomarkers for potential integration into a test for colorectal cancer.
- General Motors GM 7.47% edged down 0.9% premarket while Toyota TM 6.92% was little changed. The Japanese auto maker outsold GM for the first time last year as a global computer-chip shortage dealt an uneven blow to car businesses.
- MillerKnoll MLKN -1.58% slid 4.1% off hours. The furniture maker said losses widened in the fiscal second quarter as supply chain and labor disruptions affected sales despite strong order demand.
- Smart Global Holdings SGH -0.38% dropped 3.8% premarket. The technology firm announced a 2-for-1 share split as it reported a first-quarter profit surge and 61% sales increase.
- U.S.-traded shares of Sea SE -11.41% were feeling seasick premarket, falling 1.7% after Tuesday’s 11% drop. Tencent cut its stake in the highly valued Southeast Asian internet company, shedding an ownership position that was worth about $3 billion.
- Alexandria Real Estate Equities ARE 0.45% slipped 5.5% premarket after the office REIT set the pricing for a public offering of 7 million shares.
- Simply Good Foods SMPL 0.64% shares jumped 2.1%. The Denver-based food company, which makes products under the Atkins and Quest brands, reported an earnings beat and raised its sales forecasts for the year.
- Landec LNDC -0.54% is among the companies reporting earnings Wednesday.
Chart of the Day
- Stocks usually rise between Christmas and right after New Year’s—but this year the Nasdaq Composite missed the mark.
Write to James Willhite at [email protected]
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