Investing.com - Stocks in focus in premarket trade Wednesday:
• Shares of Activision Blizzard (NASDAQ:ATVI) rose 3.3% by 8:00AM ET (13:00 GMT) after the game maker announced a share buyback plan and said it will cut its global workforce by 8%, as the company takes the ax to underperfoming operations. The news came after Activision announced mixed fourth-quarter earnings results.
• Teva (NYSE:TEVA) stock tumbled 12.1% after the pharmaceutical company reported fourth-quarter earnings that missed expectations and offered guidance that was also below consensus.
• DISH Network (NASDAQ:DISH) shares sank 6.5% after reporting a drop of nearly 5% in quarterly revenue, as the satellite TV service provider lost more pay-TV subscribers than expected.
• TripAdvisor (NASDAQ:TRIP) stock slumped 4.4% after the travel and restaurant website company reported lower-than-expected quarterly earnings despite beating revenue estimates.
• Groupon (NASDAQ:GRPN) shares plunged 12.6% after the Chicago-based company missed fourth-quarter profit expectations due to lower customer traffic. North American active customers fell 2.5% to 30.6 million.
• Lattice Semiconductor Corporation (NASDAQ:LSCC) stock surged 17.3% after the company's revenue forecast for the first quarter topped expectations.
• Twilio Inc (NYSE:TWLO) shares fell 2.7% after the cloud computing company lowered its first-quarter guidance.
• Hilton Worldwide Holdings Inc (NYSE:HLT) stock gained 2.2% after the hotel operator reported a better-than-expected quarterly profit, as healthy travel demand allowed it to boost room prices.