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Investing.com -- U.S. stock futures rose Wednesday ahead of the release of economic data that could add to expectations of a Federal Reserve rate cut next week.
Here are some of the biggest premarket U.S. stock movers today:
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Marvell Technology (NASDAQ:MRVL) stock soared 10% after the chipmaker confirmed a multi-billion deal to buy semiconductor startup Celestial AI, as it looks to expand its compute capacity during an ongoing surge in demand driven by the artificial intelligence boom.
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Coinbase Global (NASDAQ:COIN) stock rose 2.1% after bitcoin, the world’s most popular cryptocurrency, rebounded from its deep slide at the start of the week, climbing to a two-week high.
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Pure Storage (NYSE:PSTG) stock slumped 14% after the flash storage company failed to beat expectations in its latest quarterly results, even as it raised its full-year guidance.
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CrowdStrike (NASDAQ:CRWD) stock fell 1.2% despite the cybersecurity firm reporting quarterly results that topped expectations and an upbeat full-year forecast, buoyed by record customer additions, strong subscription growth and rising demand for its AI-linked cybersecurity tools.
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Okta (NASDAQ:OKTA) stock dropped 3.9% even after the identity management company reported quarterly results that exceeded expectations, with an upbeat full-year guidance, helped by steady demand from large customers and growing adoption of products tied to identity governance and AI security.
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American Eagle Outfitters (NYSE:AEO) stock surged 13% after the clothes retailer raised its comparable sales guidance for the full year and reported net revenue for the third quarter that topped expectations.
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Gitlab (NASDAQ:GTLB) stock fell 9.2% despite the software company delivering better-than-expected third-quarter results and lifting full-year revenue guidance.
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Acadia Healthcare (NASDAQ:ACHC) stock slumped 28% after the healthcare company revised its fiscal year 2025 guidance downward, raising concerns about the company’s future earnings potential.
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Oracle (NYSE:ORCL) stock gained 1.8% after Wells Fargo started coverage of the tech giant with an ‘overweight’ recommendation, describing the firm as an “emerging leader in the AI super-cycle.”