Trading on Wall Street was mixed early Wednesday as more corporate earnings poured in, according to the Associated Press. Futures for the S&P 500 were flat, while futures for the Dow Jones Industrial Average edged down 0.1%. Nasdaq futures were up 0.2% before the bell.
Struggling pharmacy chain CVS Health soared 9.3% after it beat Wall Street’s modest sales and profit expectations. CVS’s profit fell well below the prior-year period, which the company partly blamed on increased medical costs in its insurance division.
Ride-hailing app Lyft tumbled to a 14% loss in premarket trading, despite reporting stronger profits that Wall Street expected. Lyft missed revenue forecasts as higher prices weighed on bookings, the company said.
DoorDash, the food delivery app, gained 5.8% after it fell just short of profit expectations but topped analysts’ sales targets.
Shares of Frontier Group Holdings, the parent company of Frontier Airlines, were down 3% in premarket after Spirit Airlines rejected a third takeover bid from the budget rival.
In energy trading, benchmark U.S. crude fell 81 cents to $72.51 per barrel. Brent crude, the international standard, declined 69 cents to $76.31 per barrel.
In currency trading, the U.S. dollar edged up to 153.54 Japanese yen from 152.43 yen.
