U.S. stock futures pointed higher Wednesday after two days of tech-driven losses, with S&P 500 futures up 0.3% and Nasdaq futures up 0.6%. FedEx shares fell 7% in premarket trading despite reporting better-than-expected earnings of $6.31 per share on $25.0 billion in revenue, as investors assessed the impact of its recent freight spin-off and a lower 2026 adjusted EPS outlook of $16.90 to $18.10. Cerebras stock dropped 8% after its first quarterly report since last month's IPO showed $193.4 million in revenue and a smaller adjusted loss, but the chipmaker forecast full-year adjusted operating margins of negative 28% to negative 32%. Micron Technology is set to report after the closing bell, with analysts expecting revenue of $36.15 billion and adjusted EPS of $20.95, while Alphabet will replace Verizon in the Dow Jones Industrial Average next week.
Cerebras Systems Inc. Class A Common StockCerebras reported first quarterly results since IPO with revenue of $193.4M but forecast full-year adjusted operating margins of negative 28% to negative 32%, causing shares to drop 8%.
Alphabet Inc Class C
FedEx CorporationFedEx reported better-than-expected earnings but issued a lower 2026 adjusted EPS outlook of $16.90-$18.10, causing shares to fall 7%.
Micron Technology IncMicron is set to report earnings after the bell; no results or news yet, only analyst expectations.
Verizon Communications Inc