On Wednesday, the futures indicated a mixed opening as traders anticipated the Federal Reserve’s announcement later in the day. The following are the stocks to watch on Wednesday:
Stocks to watch
- After publishing its quarterly earnings, AMD (NASDAQ:AMD) increased in premarket trade. Even after the manufacturer of semiconductors issued a warning about a month ago, the company’s Q3 earnings and revenue fell short of projections. The company’s Q4 projection, which predicted revenue between $5.2 billion and $5.8 billion, pleased investors, as shares increased 5% before the opening bell.
- In premarket trading, Airbnb (NASDAQ:ABNB) fell more than 6% as a result of the results announcement. The vacation rental platform reported Street-beating results for the third quarter but issued a warning that its growth in a crucial booking number would decelerate in the fourth quarter compared to the third.
- In the wake of its quarterly statement, Paramount Global (NASDAQ:PARA) also saw a decline. After missing expectations on both its top and bottom line, the entertainment company’s shares fell more than 8%. To $6.9B, revenue increased by about 5%. According to Paramount, the reduction in pay-TV subscribers caused the TV media segment’s revenue to drop 5% to nearly $4.9 billion from the prior quarter. CBS, a broadcast network, as well as cable TV networks MTV, Nickelodeon, and the premium network Showtime, are all included in the group.
- The quarterly earnings announced by CVS Health (NYSE:CVS) surpassed forecasts. Also exceeding expectations, revenue increased by 10% to $81.2B. This was $4.4B more than analysts had predicted. In early Wednesday trading, shares were up almost 4%. With its sales of prescription and over-the-counter medications, MinuteClinic patient care services, and CVS Caremark, the pharmacy benefits manager, CVS offers a variety of medical services. Aetna, a managed health insurance provider, is also owned by the business. With the announcement of its $8 billion purchase of at-home healthcare provider Signify in September, the retailer announced this quarter’s redoubling of its commitment to the industry. While its results call on Wednesday morning, CVS stated that The deal is scheduled to finalize in the first part of the year 2023.
You can check out yesterday’s stocks to watch: The Top 5 Stocks To Watch On Tuesday: Uber, Pfizer, Molson Coors, Among Other
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Author Jowi Kwasu 
