CrowdStrike, Stitch Fix, Tesla, Occidental, SoundHound, and More Market Movers

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Stock futures edged higher Wednesday following a session in which stocks sold off after Federal Reserve Chairman Jerome Powell said the central bank could raise interest rates higher than expected as it tries to cool a surprisingly strong U.S. economy.

These stocks were poised to make moves Wednesday: 

CrowdStrike

(CRWD), the provider of security software, was rising 6.9% in premarket trading after fourth-quarter adjusted earnings beat analysts’ forecasts and the company issued an outlook for the fiscal first quarter and year also higher than estimates.

Retail styling company

Stitch Fix

(SFIX) declined 7.4% after fiscal second-quarter revenue of $412.1 million fell from $516.7 million a year earlier and missed analysts’ expectations.

Tesla

(TSLA) fell 1.3% in premarket trading after tumbling 3.2% in Tuesday’s session following Powell’s comments on interest rates. Meanwhile, Tesla stock was downgraded to Hold from Buy at Berenberg, with a price target of $210, up from $200, the Fly reported.

Occidental Petroleum

(OXY) gained 2.7% after a filing disclosed that Warren Buffett’s

Berkshire Hathaway

 (BRK.B) bought almost 6 million shares of the energy company in recent days, bringing its stake in Occidental to 200.2 million shares worth $12.2 billion.

SoundHound AI (SOUN), a developer of voice, sound and natural language artificial intelligence technologies, was down 9.3% in premarket trading after reporting a fourth-quarter loss of $30.7 million, wider than a year earlier.

Energy Vault

(NRGV) jumped 4.8% after the utility-scale energy-storage-product provider reported fourth-quarter sales that topped Wall Street estimates but its revenue outlook for the current fiscal year was below the company’s own guidance.

Full Truck Alliance

(YMM), the China-based digital freight platform, reported fourth-quarter adjusted earnings of $64.6 million, up 84% from a year earlier. American depositary receipts of

Full Truck Alliance

rose 0.5%.

Write to Joe Woelfel at [email protected]