Today's Most Active Stocks: Uber, Capri, New Relic, Lumen, Microsoft, and More

Wednesday's stock futures were down following solid gains on Tuesday, which came after Federal Reserve Chairman Jerome Powell said inflation was easing, but that to reduce inflation further, more interest rate hikes were needed as the U.S. labor market remains resilient.

Wednesday was shaping up to be a big day for these stocks:

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Capri Holdings (CPRI)

Versace, Jimmy Choo, and Michael Kors' parent company Capri Holdings fell 18.9% after disappointing third-quarter earnings and fiscal-year guidance. The stock of New Relic (NEWR) gained 16.8% following the release of its adjusted quarterly financial results and the software company's upward outlook for the fourth quarter.

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Lumen Technologies (LUMN)

There was a 19.6% drop in Lumen Technologies Ltd.LUMN -18.14 % (LUMN) shares after the telecommunications company published a forecast that missed expectations for adjusted earnings before interest, taxes, depreciation, and amortization, as well as free cash flow in 2023.

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Fortinet (FTNT)

Fortinet FTNT +13.59% (FTNT) soared 13.8% in after-hours trading after it announced better-than-expected fourth-quarter earnings and its forecast for annual revenue and billings also exceeded analysts' expectations.

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Uber Technologies (UBER)

The ride-sharing and delivery company's earnings beat expectations in the fourth quarter, leading the stock to rise 7.9%.

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Enphase Energy (ENPH)

Enphase Energy (ENPH) shares rose 7.5% on Thursday after the supplier of solar and battery systems revealed that its fourth-quarter revenues increased to $724.7 million from $412.7 million a year ago. The company also guided for higher revenue in the first quarter than analysts had expected.

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Chipotle Mexican Grill (CMG)

There was a 4.4% drop in Chipotle Mexican Grill's share price in premarket trade after the Tex-Mex burrito and taco chain had reported fourth-quarter adjusted earnings, revenue, and same-store sales that didn't meet Wall Street's expectations.

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Microsoft (MSFT)

A 1.2% rise in Microsoft's (MSFT) stock was seen in premarket trading on Wednesday. ChatGPT, a generative artificial intelligence technology behind the Bing search engine, was announced by Microsoft as part of an upgrade to its search engine. 

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Activision Blizzard (ATVI)

The stock of Activision Blizzard (ATVI), a leading video game developer, fell 2.8% after U.K. antitrust regulators stated that the proposed acquisition of Activision by Microsoft could weaken competition in the cloud and console gaming areas if the deal is approved.

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Illumina (ILMN)

DNA sequencer Illumina (ILMN), based in San Diego, fell 2.8% after its fourth-quarter results disappointed Wall Street.

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CVS Health (CVS)

A share of CVS Health (CVS) rose 2.9% early Wednesday morning after the healthcare company announced it would be acquiring Oak Street Health (OSH) in an all-cash transaction with an enterprise value of $10.6 billion. CVS also reported quarterly earnings that were in line with analysts' expectations at the end of the quarter. There was an increase of 4.8% in Oak Street shares.