Cerebras Systems (CBRS): The chip maker, which went public in May, said it expects its operating margins to remain negative and under pressure through the end of the year. Shares slumped nearly 14% premarket.

FedEx $(FDX)$: The shipping company logged higher revenue in its latest quarter, but profit ticked down, knocking its shares in premarket trading.

Rheinmetall (XE:RHM): The arms maker's shares dove 16% in Frankfurt after media outlets reported Germany is abandoning plans to build a new warship model, sinking one of the biggest projects in the company's pipeline. Rheinmetall didn't immediately comment.

Alphabet $(GOOG)$: The Google parent will be added to the Dow Jones Industrial Average beginning Monday, the index's operator, S&P Global, said late Tuesday. Moving out to make room: Verizon Commuincations $(VZ)$.

Micron Technology $(MU)$: The memory-chip maker is due to report earnings after markets close today. Micron shares slumped 13% yesterday amid a selloff in tech stocks.