Dick's Sporting Goods was nearing a deal to buy rival footwear retailer Foot Locker for about $2.3 billion, the Wall Street Journal reported on Wednesday, citing people familiar with the matter. The companies have discussed a deal at $24 per share for Foot Locker, the report said. That would represent an 86.5% premium to the stock's last closing price.

Foot Locker shares soared 69.2% in overnight trading.

Cisco said on Wednesday that its finance chief Scott Herren will retire from the company in July, and raised its annual results forecast, betting on steady demand from cloud customers for its networking equipment, driven by the artificial intelligence boom. Herren will be replaced by Mark Patterson, currently Cisco's chief strategy officer, who will start as the CFO on July 27.

Shares of the San Jose, California-based company rose 2.6% in overnight trading.

The U.S. Department of Justice (DOJ) is carrying out a criminal investigation into UnitedHealth for possible Medicare fraud, the Wall Street Journal reported on Wednesday. The company's stock slipped 6.7% in overnight trading following the report, which follows a series of problems at the insurer.

Nvidia-backed CoreWeave’s quarterly profit forecast missed estimates as the company said it was bringing forward some spending to meet customer needs. The shares dropped 7.2% in overnight trading.

Red Cat Holdings, a drone technology company integrating robotic hardware and software for military, government, and commercial operations, disclosed its first-quarter financial results, revealing a significant revenue decline of 75.3% year-over-year, down to $1.63 million. The company also reported a GAAP earnings per share of -$0.27, indicating persistent financial hurdles that investors should be aware of. The shares sank 11.3% in overnight trading.