Coinbase (ticker: COIN) fell 10.9% in premarket trading after receiving a “Wells Notice” from the Securities and Exchange Commission warning that agency officials had made a tentative decision to challenge an enforcement action recommend the crypto exchange.
In a securities filing, Coinbase said that based on discussions with the agency, it believes the action would affect “aspects of the company’s spot market, staking service Coinbase Earn, Coinbase Prime and Coinbase Wallet.”
First Republic Bank (FRC) is up 6.3% in premarket trade, while regional lender PacWest Bancorp (PACW) is up 5.5%. First Republic slumped more than 15% on Wednesday and PacWest slumped more than 17% after government officials made conflicting reports about deposit safety.
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Office furniture maker Steelcase (SCS) posted fourth-quarter sales that beat Wall Street expectations, and the stock rose 9.8% in premarket trading.
Chewy (CHWY), the online retailer of pet products, fell 5.5% after reporting surprise earnings in the fiscal fourth quarter but saw active customers down 1.2% year-on-year to 20, 41 million.
Accenture (ACN) shares rose 4.6% after the company, which provides IT consulting and other services, reported second-quarter adjusted earnings that beat analysts’ expectations.
KB Home
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(KBH) gained 2.9% after reporting first-quarter earnings and sales that beat analyst estimates. The home builder said he noticed a surge in demand as the spring selling season began.
AMC Entertainment (AMC) is up 2.6% to $4.48 in premarket trading. Citi resumed coverage of the cinema chain’s shares with a sell rating and a price target of $1.60.
Ford (F) shares rose 1.7% in premarket trading after the automaker updated details of its electric vehicle business.
Darden Restaurants (DRI) slipped 1.6% as the owner of Olive Garden, LongHorn Steakhouse and Capital Grille posted third-quarter earnings that beat consensus and upgraded its revenue outlook.
Stock of the food giant
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General Mills (GIS) rose 1.4% after the company reported better-than-expected results for its third quarter and raised its guidance for the full year.
Write to Joe Woelfel at [email protected]