General Dynamics, ADP rise premarket; SoFi Technologies slides

Investing.com - U.S. stock futures floated just above the flatline on Wednesday, ahead of what is expected to be one of the busiest trading days so far this year.

By 06:58 ET (10:58 GMT), the Dow futures contract was mostly unchanged, S&P 500 futures had risen by 5 points, or 0.1%, and Nasdaq 100 futures had climbed by 92 points, or 0.3%.

Here are some of the biggest premarket U.S. stock movers today:

• Alphabet, Microsoft, Amazon, and Meta were all slightly lower. The mega-cap tech giants are due to report after the bell, with investors keen for these companies to provide an update on their massive artificial intelligence spending plans.


• General Dynamics Corporation climbed after the aerospace and defense firm notched a 10% rise in first-quarter revenue.


• Automatic Data Processing raised its annual adjusted profit forecast, sending shares in the firm higher.


• Regeneron Pharmaceuticals dipped slightly despite the group posting better-than-anticipated first-quarter profit and revenue thanks largely to solid demand for its eczema drug, Dupixent.


• Phillips 66 shares rose after the U.S. downstream energy provider logged higher-than-projected adjusted earnings per share in the first quarter.


• Penske shares ticked higher following better-than-anticipated first-quarter revenue from the U.S. auto and truck retailer.


• Digital financial services firm SoFi slumped despite the company notching a doubling in first-quarter profit amid record loan originations and member growth.


• Tradeweb shares dropped after the electronic trading platform flagged that its annual adjusted expense outlook would trend toward the top half of the $1.1 billion to $1.16 billion range.


• Hayward Holdings edged down, even after the specialty water management company's fiscal first-quarter sales and adjusted diluted per-share income beat estimates.


• Scotts Miracle-Gro jumped on higher-than-expected adjusted core earnings from the U.S. lawn and garden name.


• Virtu Financial shares advanced after the electronic trading firm logged a 71% spike in quarterly adjusted net income, topping expectations.

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