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

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Rivian raises production guidance, Robinhood's third-quarter revenue misses analysts' expectations, and Upstart posts a wider-than-expected quarterly loss.

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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