Rivian, Robinhood, Upstart, Toast, Array, Kyndryl, Sleep Number, and More Market Movers

Stock futures edged lower Wednesday ahead of commentary from Federal Reserve Chairman Jerome Powell and a host of other U.S. central bank officials that Wall Street hopes will offer clues as to the future path of interest rates.

Robinhood Markets missed Wall Street’s third-quarter revenue expectations as transaction revenue and monthly active users both slowed. Shares of the trading app declined 7.8%. Microsoft was down slightly in premarket trading after shares of the software maker closed at an all-time high of $360.53 on Tuesday. The stock has risen for eight consecutive days, its longest winning streak since Jan. 28, 2021.

Upwork surged 21% after third-quarter earnings and revenue at the platform for freelancers topped Wall Street estimates.

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Upstart’s stock gets hammered as earnings outlook comes in light‘Of course we’d prefer to be growing quickly, but this is a time when it’s wise to be operating in a conservative mode,’ CEO says
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Rivian beats third-quarter consensus, but RIVN stock gives up early post-market gainRivian (RIVN) reported third-quarter results that largely overcame dour Wall Street expectations late Tuesday.
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