Key Points to Watch Out For:
- CoreWeave shares drop 9% in premarket trading.
- Cava cuts outlook, plunges over 20% before the open.
- Tencent tops estimates with record revenue.
CoreWeave (CRWV): wider loss and premarket slide
The AI-focused cloud provider posted a quarterly loss larger than expected, though revenue more than tripled. Shares fell 9% premarket.
Bullish (BLSH): debut and $1.1B raised
Shares of the crypto exchange operator start trading Wednesday. The CoinDesk owner raised $1.1 billion in its IPO.
Cisco Systems (CSCO): earnings after the bell
The company will release quarterly results following the market close.
Cava (CAVA): weak comparable sales and lowered guidance
Same-store sales missed forecasts, prompting a full-year guidance cut. CEO Brett Schulman cited “a lot of fog and uncertainty.” Shares plunged over 20% premarket.
Alibaba (BABA) & Baidu (BIDU): Chinese tech rally
Chinese tech stocks gained as U.S. inflation data reinforced expectations of a September rate cut. Alibaba rose 6.1% in Hong Kong; Baidu also advanced.
Tencent (TCEHY): beat and record revenue
The WeChat operator exceeded forecasts and reported record sales. Shares closed 4.7% higher in Hong Kong ahead of results.
BP (BP), Shell (SHEL) & TotalEnergies (TTE): energy sector dips
European energy stocks fell ahead of Trump-Putin talks on Ukraine. BP slipped 1.6% in London, while Shell and TotalEnergies also declined.
