Dow Jones, Nasdaq 100, and Russell 2000 futures drifted upwards on Wednesday ahead of the upcoming Federal Reserve decision. The blue-chip Dow Jones futures rose by 50 points while the Nasdaq 100 rose by 50 points. The VIX index dropped to $22 while the US dollar index (DXY) rose by 12 basis points. Here are some of the top premarket stock movers on Wednesday.
Lennar stock rises
Lennar stock price has been in an upward trend as mortgage rates slip. The company will be in the spotlight on Wednesday as the company publishes its financial results. It will also react to the latest Fed decision. Analysts expect that the firm’s revenue rose to $10 billion in the third quarter while its profit came in at $4.90 per share.
Trackwise share price spikes
In the UK, Trackwise stock price jumped by more than 17% after the company announced that it was raising 5.2 million pounds. The company will issue 364 million shares at a 92% discount. The fundraising comes after the company secured a new agreement with an equipment manufacturer to provide flexible printed circuit boards. Trackwise manufactures products in the automotive, aerospace, industrial, and IHT industries.
Argos Resources shares rise by 15%
Another top mover in the UK was Argos Resources, a small oil and gas company. It holds a 100% interest in License PL001 in the North Falklands region. The company’s stock rose as the price of crude and oil continued rising.
Helium One Global shares slip 12%
Helium One Global share price collapsed by 12% after the company announced plans to raise 7 million pounds to fund its drilling operations in Tanzania. The announcement came a week after the firm said that it was on track to spud its Tanzanian well in the first quarter of 2023. The funds translate to $8.6 million. In most cases, stock prices tend to decline after a company announces a major fundraising.
Premier African Minerals shares up by 5%
The Premier African Minerals stock price has been in a strong bullish trend in the past few months. It has rallied by over 45% in the past three months as demand for electric car manufacturing materials jumped. The firm has come in the spotlight because of its lithium project in Zimbabwe.
Watches of Switzerland shares falls
In the UK, the Watches of Switzerland share price collapsed by 5% after the company published strong results. The firm is benefiting from the strong demand of its watches in the UK and other markets. It backed its full-year guidance as revenue surged by 23% in the third quarter.