US stock futures were mostly lower Wednesday as a recent risk-on rally looked set to stall.
These stocks were poised to make moves Wednesday:
Strategy jumped 3.9% ahead of the opening bell. Shares in the major Bitcoin investor, formerly known as MicroStrategy, rallied after MSCI scrapped a plan to exclude so-called digital asset treasury companies from its indexes. Other companies that hold significant amounts of crypto weren’t getting much of a boost, though— BitMine Immersion Technologies slid 0.7%, and Peter Thiel-backed ETHZilla ticked up just 0.2%.
Flash memory company Sandisk fell 1.8% in premarket trading. The stock was giving up some gains after soaring 28% on Tuesday to finish at $349.63, a record closing high. Sandisk has risen almost 900% since spinning off from Western Digital in February 2025, benefiting from growth in demand for artificial-intelligence applications and prices for solid state drives. Memory chip makers Western Digital and Seagate Technology fell 0.9% and 1.3% respectively, having both also racked up double-digit gains the previous session.
Ventyx Biosciences surged 66% to $16.73.Eli Lillyis in advanced talks to acquire the developer of pills to treat inflammatory diseases for more than $1 billion,The Wall Street Journalreported, citing people familiar with the matter. Lilly shares were flat.
Mobileye Global jumped 10% after the autonomous driving company reached an agreement to acquire artificial-intelligence robotics start-up Mentee Robotics for $900 million in cash and stock.
Deckers Outdoor dropped 4% to $103.16 after shares of the maker of Hoka running shoes and Ugg sheepskin boots was downgraded. Baird cut its rating on the stock to Neutral from Outperform and set a $125 price target, citing concerns about conservative financial guidance tied to the Hoka brand.
Cal-Maine Foods climbed 0.6% in premarket trading. The nation’s largest egg producer is expected to post a significant sales and earnings drop in its fiscal second quarter because of falling egg prices. Cal-Maine is scheduled to issue its earnings report before the stock market opens Wednesday.
Earnings reports are also expected on Wednesday from Constellation Brands, Jefferies Financial, Albertsons, Applied Digital, MSC Industrial Direct, and Unifirst.