Stocks making the biggest moves in the premarket: Rivian, UPS, Coinbase and more

— Shares of the logistics and delivery company fell more than 1% in premarket trading as negotiations between UPS and the Teamsters union appeared to hit an impasse. The union said in a statement Wednesday that negotiations had collapsed after UPS "walked away from the table." UPS said in response that it had not walked away and was encouraging the union to return to the table.

The current UPS Teamsters contract expires at the end of July.— The crypto services company fell more than 2 after Piper Sandler downgraded the stock and said that, despite the recent market rally following the SEC's lawsuit against Coinbase, the increase in crypto prices haven't translated to an increase in trading volume. The firm also expects Coinbase to report its lowest trading volumes and monthly transacting users in over two years for the third quarter.

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